Dr Martens recorded a profit before tax of £70.9m
Dr Martens (LON:DOCS), the British bootmaker, confirmed on Thursday that its earnings increased by 22% over the year as online sales stepped up while physical stores remained closed due to lockdowns.
The company was able to return the money it borrowed under the furlough scheme as its first set of results as a listed company proved to be strong.
Dr Martens received £1.3m from the government during the early part of the pandemic.
The firm recorded a profit before tax of £70.9m, down by 30% as costs do with its IPO amounted to £80.5m.
Dr Martens confirmed that it continued to invest throughout the pandemic, increasing its staff by more than 250 people, and opening 18 new locations.
“The pandemic presented challenges to our operations and ways of working, and our priority throughout was to keep our people and consumers safe. I am very proud of the resilience, dedication and agility of our teams across the globe,” said chief executive Kenny Wilson.
Dr Martens said the guidance it outlined when the company listed remains the same. For the full year 2022, it expects growth in the high teens compared to the year before. While from full year 2023 and over the medium-term, it anticipates the same.
