Hackett Limited has filed its accounts for the year ending last March with the upmarket menswear business saying that turnover increased by over 13% to almost £130 million. Profits rose as well.

The company’s turnover was actually up 13.45% at £129.378 million with EBITDA jumping 46.23% to £8.057 million. That said, net profit for the year fell to £4.115 million from £5.316 million as a more-than-£4 million tax credit that the company enjoyed in the previous year wasn’t repeated this time.

Hackett, which is owned by AWWG, said that wholesale was the biggest contributor to the increase with its sales there growing 18.3% compared to the previous year (during that year the channel actually increased more than 20%).

It added that e-commerce sales growth was again up in double digits with a 16% rise that was mainly due to what it called a “great performance” via the marketplace channel (up 50%). It says this channel is still immature as far as its business is concerned with new marketplace openings, such as Breuninger, and strong growth via German e-commerce giant Zalando.

The increase in direct physical retail was much smaller but this is only to be expected. The company opened two full-price stores during the year although it also closed another. That resulted in retail sales rising 3%, much lower than the 46.6% increase of the previous year. But it improved the margin on such sales by 19%. 

As of the end of the financial year its directly operated stores in the UK amounted to 15 full-price locations and seven outlets compared to 14 and six, respectively, in the previous year.

The company has been working on a brand refresh, dubbed Re-Energyze Hackett, which it said has been successful. It has also included additional investment in communication with the aim of improving brand awareness.

And that strategy has seen it working on expanding in wholesale and e-tail with, as the above figures show, these seeming to have been successes as well.