Global lifestyle brand J Barbour and Sons saw its profits fall 8.4% year-on-year to £28.5m for the year ended 30 April 2020.
This occurred despite the group’s turnover increasing from £225.2m in FY 2019 to £242.8m the following year.
Barbour also saw its operating profit decrease £3.3m to £35.1m during the period, as Covid-19 began to play a “significant”impact on the firm’s performance during the final quarter of the year.
The group said that despite “revenues showing progress” overall group performance was “down compared to last year”.
It added: “The profit figure of £28.5m represents a steady performance, supporting our financial resilience and ability to navigate the sustained challenges of foreign exchange.
“Now more than ever our focus on overhead cost control is very high, while we strive to deliver excellent products complemented by engaging consumer campaigns as well as our unwavering commitment to excellence in customer experience.”
Barbour entered FY 2021 with £97.4m cash, compared to £87.3m in FY 2019, representing a strengthening of the group’s balance sheet.
Moving forward, the company said that “navigating Covid-19 is central” to its focus as it looks to achieve “sustainable recovery and growth in line with our vision and values”.