High-end handbags specialist Strathberry has filed its accounts for the year to the end of April and they show an increase turnover and rises in all measures of profit.

The company said that turnover increased from £17.382 million to £26.877 million. And despite the cost of sales increasing by almost £5 million and admin expenses rising by more than £2 million, gross profit was up from £10.28 million to £15 million while operating profit increased from £1.357 million to just short of £3 million.

Profit before tax was up from £1.359 million to just over £3 million and although the company paid almost three times as much tax this year than in the prior year, its net profit still ended up much higher, rising from £1.1 million to £2.138 million.

That’s clearly a good set of figures for the company, which as well as its luxury handbags also sells small leather goods, cashmere and jewellery, said in its accounts filing that during the year it “continued to demonstrate resilience and achieved strong growth despite the challenging market conditions faced by the retail industry”.

Key highlights included “significant” growth in online sales both in terms of volume and value, as well as significant geographical reach. Its online revenue actually grow a hefty 68% year on year. 

Its physical retail stores also continued to benefit from the return of tourists to both Edinburgh and London, and the boutiques saw very strong sales growth of 30% as footfall from domestic shoppers increased.

It added that its wholesale partners continued to grow following successful markets at New York, Paris and London fashion weeks with both sell-in and sell-out having grown “considerably”. 

And it continued to “maintain the positive revenue growth momentum” into the current financial year. Its growth trajectory has been supported by “new product launches and continued brand development and reach”.