Given the funds made available for investment since its July flotation the growth trajectory at Glasgow-based clothing group Quiz looks set to continue.
The group’s first full report to the stock market covers the six months to September 30, meaning of course that only two-and-a-bit months of trading came after the £100 million initial public offering.
The 35 per cent revenue growth to £56m, comfortably puts the company on track to pass the £100m mark for the full year – with analysts expecting something closer to £115m. Not bad going considering that would represent a 90 per cent increase on its 2015 turnover.
The company plans to grow fundamentally through online and international channels, a strategy which is working. In the first half of 2017 online sales were 10.8 per cent of the group’s total. That has leapt to a quarter. International sales may have fallen in this context, from 21.4 per cent to 17.8 per cent, but that can be explained by the 205 per cent growth in online sales. And a planned US launch for 2018 could make all the difference there.
The group’s share price hasn’t moved much from its flotation price but it is very early days for Quiz as a public company, and watching how its second half progresses relative to forecasts will provide a better illustration of whether founder Tarak Ramzan’s vision of becoming a global brand is likely to be achieved.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here