Tory Burch UK has filed its audited accounts for last year with turnover rising a healthy 16.4% from £24.43 million to £28.44 million.

The company, which operates only three standalone retail stores in the UK as well as two in Germany (that country being included in the UK operation), said that the increase was primarily driven by its strong e-commerce operations. But sales through the retail stores also grew. While the company operated five stores at the end of the year, that number had been six at the end of the previous 12-month period.

The company’s gross margin also rose healthily, increasing from 63.5% in the previous year to 66.9%. That said, administrative expenses were also higher by 9.4%, reaching £16.53 million, although this mainly reflected the improved performance of the group, “which resulted in lower market support payments received” during 2023 compared to 2022.

Both years were 52-week periods so the performance is clearly impressive. But what about profit?

The company said operating profit jumped strongly from £398,000 in the previous year to £2.5 million this time. And pre-tax profit saw a strong leap from £454,000 up to £2.8 million. Meanwhile net profit for the period was £3.3 million, up from almost £342,000 the year before.

Overall it was a good performance compared to the previous year when the gross margin had fallen and profits had dropped despite significantly higher sales.