Profits triple at Go Outdoors

Go Outdoors, the camping and clothing specialist, more than tripled its profits and nearly doubled its sales last year.

The retailer, which has 25 stores, grew pre-tax profits by 350 per cent to £4.25m for the 53 weeks to 30 January 2010.

Boosted by seven new stores, turnover soared by 83 per cent to £75.4m, according to accounts filed at Companies House yesterday. Go Outdoors wants to open 50 stores by 2012 and reckons there is scope for 100 UK shops.

This year, Go Outdoors hired as chairman the serial deal maker John Lovering, the former chair of Debenhams, fuelling speculation the retailer will seek a sale of the business over the next few years. Operating profits doubled to £4.88m last year. During its last financial year, Go Outdoors paid a final dividend of £228,000.

But since January, its directors have approved an interim dividend of £840,000 and proposed a reduced final dividend of £71,000.