Barbour pays 30m dividend to founding family as profits jump by 10m

"The Barbour family has paid itself a £30 million dividend after a fashion-led revival of waxed jackets helped drive a sharp increase in profits at the heritage outerwear group. Accounts filed at Companies House show that J Barbour & Sons posted a £10 million rise in operating profit to £49.5 million in the year to the end of April, as renewed demand for its signature waxed jackets boosted sales and margins. The company, founded in 1894 and still wholly owned by the founding family, has benefited from a resurgence in popularity as waxed jackets returned to fashion, driven by collaborations with luxury labels, musicians and designers that have broadened its appeal among younger consumers."

"Turnover rose by 9 per cent to £350.8 million, supported by a recovery in its wholesale business after a challenging period, alongside higher direct-to-consumer sales through Barbour's stores and online channels. The group said this performance was achieved despite ongoing global cost and pricing pressures across its markets, which include the UK, Ireland, Germany, the United States and Asia. A final dividend of £30 million was recommended for the year, matching the payout made in the previous year and marking the first dividends paid in two years."

"The highest-paid director, understood to be Margaret Barbour, received £2.5 million in remuneration, up from £1.9 million a year earlier. Barbour said that a "significant proportion" of Margaret Barbour's dividend is donated to the Barbour Foundation, which supports charitable, cultural and community initiatives, particularly in the northeast of England. Dividends of £822,000 were paid to the foundation last year. The business remains under the stewardship of the fifth generation of the family. Margaret Barbour, 85, serves as chairman, while her daughter Helen Barbour, 59, is vice-chairman."

J Barbour & Sons reported a £10m rise in operating profit to £49.5m in the year to the end of April, driven by renewed demand for its signature waxed jackets. Turnover increased 9% to £350.8m, aided by a recovery in wholesale and stronger direct-to-consumer sales through stores and online. The company recommended a £30m final dividend, matching the prior year and marking the first dividends paid in two years. Margaret Barbour’s remuneration rose to £2.5m, and a significant proportion of her dividend is donated to the Barbour Foundation, which received £822,000. The business remains family-owned and operates across the UK, Ireland, Germany, the US and Asia.

Read at Business Matters