New Balance’s UK division has more than doubled its sales and significantly increased profits over the last two years.
- The company reported a staggering turnover of £882.1 million in 2023, marking a dramatic rise from £413.5 million in 2021.
- Pre-tax profits soared to £148.2 million, demonstrating a meaningful recovery from previous years of financial struggle.
- The company experienced considerable growth in its workforce, expanding from 690 to 738 employees.
- Strategic investments in UK manufacturing and key sports categories continue to drive the brand’s global athletic presence.
The UK division of New Balance has reported an impressive sales surge, more than doubling its previous figures over the past two years. With a reported turnover of £882.1 million in 2023, the growth is substantial compared to a turnover of £413.5 million in 2021. This achievement underscores the company’s robust market strategy and consumer appeal.
In a notable financial turnaround, New Balance’s pre-tax profit rose to £148.2 million in 2023, a significant leap from £6.6 million recorded the previous year. Since 2014, the company had faced challenges in recording positive pre-tax profits, making this growth particularly noteworthy.
Additionally, New Balance has expanded its workforce, increasing its number of employees from 690 to 738. This expansion reflects the company’s commitment to scaling its operations in line with its sales and profit growth.
The company attributes its success to effective sales and margin growth across both wholesale and direct-to-consumer channels. These efforts have been bolstered by strong consumer demand and increasing brand strength.
Investments in strategic sports categories, including running, football, tennis, and basketball, remain a top priority for New Balance as it aims to bolster its position as a leading global athletic brand. The company’s commitment to UK manufacturing and research and development further supports its ambition to deliver high-quality sports products.
New Balance’s strategic expansion and financial achievements highlight its growing influence in the global sports market.
