New Balance UK sales surpass £1bn for first time
Sales to the rest of Europe climbed from £606.3m to £710.5m, while revenue from the rest of the world grew to £14.4m from £10.2m
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New Balance’s UK subsidiary has reported sales exceeding £1bn for the first time, with turnover reaching £1.02bn in the year to 31 December 2024.
Profit before tax also rose from £148.2m to £192.3m, while profit after tax increased to £143.9m, up from £114.4m in 2023.
In the UK, turnover increased from £265.6m to £301.1m. Sales to the rest of Europe climbed from £606.3m to £710.5m, while revenue from the rest of the world grew to £14.4m from £10.2m.
In a statement filed with Companies House, the company said: “The year-on-year improvement was driven by sales and margin growth across Wholesale and Direct-to-Consumer channels, where both consumer demand and brand strength continued to increase.
“There was a similar uplift in intercompany sales as the trend seen within the UK market was largely replicated across other subsidiaries. Despite the increase in intercompany sales, our intercompany receivables balances have reduced year on year due to subsidiaries settling their balances sooner.”
It added: “Cost base management alongside considered investment for growth, continues to be a primary focus, and with previous years there was ongoing strategic investment in the UK, particularly in both the running and football categories.”
