Chairman's Statement

In the Annual Report last year I gave a frank assessment of what had been a difficult year for our company. This year I am pleased to report solid progress in a number of key areas.

The Group's results show continued expansion of the business, growing revenues and increased profits. More importantly, we have met market expectations on a consistent basis. Improvements to internal forecasting and review processes have enabled clearer and more accurate external communications about our performance and expectations.

Our management team has been strengthened significantly. A year ago Susanne Given and Shaun Wills had recently joined in their respective roles as Chief Operating Officer and Chief Financial Officer. These key appointments have brought new skills and disciplines to the executive team which have complemented Julian Dunkerton and James Holder well. The last 12 months have also seen key appointments of a Head of UK and Ireland Retail, a Director of HR, a Director of IT, and a Head of Logistics. Most recently Hans Schmitt has been appointed to head up the International and Wholesale division.

The board has changed significantly too. In addition to Susanne's and Shaun's appointments, Theo Karpathios resigned from his role as Chief Executive of the International and Wholesale business last August, while Steven Glew and Indira Thambiah stood down from their positions as non-executive directors at the end of January. I would like to thank all three for their contributions to the development of SuperGroup, most notably Theo for his role as a co-founder and in laying the foundations of our international business. Minnow Powell and Euan Sutherland joined the board at the end of November and have added new perspectives and brought an improved balance to the board.

The Superdry brand is in good health. It continues to be in demand in all geographies and our brand tracking research shows it is distinctive and robust. Julian Dunkerton's vision, leadership and commercial skills combined with James Holder's design talent have moved our product range forward on many fronts.

Over the next year we have planned substantial investments in our IT and Logistics infrastructure. These programmes will enhance our capacity for future growth as well as enabling efficiencies within our existing operations. I also anticipate that in the next 12 months the Group will see significant developments in the international expansion of our activities.

SuperGroup has, in many respects, grown up over the last year. The new people who have joined us have brought new skills and have often been a stimulus for change, but it would not have been possible without the commitment and enthusiasm of those who have worked for the Group for many years and, above all, a preparedness to learn and improve throughout the company. On behalf of the board I'd like to thank everyone who works for SuperGroup for what has been achieved over the last year.

Peter BamfordChairman
10 July 2013