Agent Provocateur expects strong growth for FY14

Agent Provocateur is expecting to report a 30% rise in profit in the fiscal year to March 2015.

When including contributions from new stores, growth could reach £70m, roughly in line with trends seen in previous years, CEO Garry Hogarth told Reuters in an interview on Tuesday on the fringes of the World Retail Congress in Paris.

Revenue rose from £1.7m to £3.8m to March 2013, as the lingerie company opened 11 new stores in Europe, Australia, Asia, the US and Canada.

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Agent Provocateur, recently put up for sale by its private equity controlling shareholder, 3i, has enjoyed same-store sales growth of 17% since January, Hogarth said.

This result bucks the trend for a slow growth in the overall luxury goods market as fewer tourists shop in Europe and Hong Kong, and as Chinese and Russian demand has weakened.

"So far, our businesses have not been affected by events worldwide," Hogarth said.




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