Ted Baker looks smart as High St rivals falter

Ted Baker showed today that it is possible to make money on the high street, even as rivals flounder and consumers pinch pennies.

The clothing brand that began in 1987 has had a strong half year. Sales are up 17% to £103 million.

Founder Ray Kelvin reckons the secret is keeping the money side simple while being innovative with the products.

"There must be some winners," he said of the troubled economy. "We try very hard. We have no debt to speak of, no structured loans, no financial worries. We are a brand. We have innovation and creativity, and I work with a lot of very talented people."

Profit is up 13% to £8.5 million, allowing a 13% rise in the interim dividend to 7.15p.

As a 40% shareholder, that's worth about
£1.2 million to Kelvin, though he insisted he had not done the maths. "I'm in it for the clothes," he said.

Ted is opening stores in Tokyo and Beijing early
next year.