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Highlights
- Martens PLC (LSE:DOCS) is an FTSE 250 listed, footwear brand based in the United Kingdom.
- In fiscal year 2023, the company posted 10.13% growth in revenue.
- DOCS achieved 16% increase in the sales to GBP 520.7 million during the reporting period.
FTSE 250 listed Dr. Martens PLC (LSE:DOCS) is one of the leading footwear brands selling a range of products under diverse categories. Presently, the brand is operating across three geographic regions – Americas, Asia-Pacific (APAC) and Europe, the Middle East and Africa (EMEA).
In fiscal year 2023, the company posted 10.13% growth in revenue over previous corresponding period. This can be attributed to the improved channel performance that also pulled in an increase of 16% in the sales to GBP 520.7 million during the reporting period.
“We achieved annual revenue of £1bn for the first time, up 10% and up 4% in constant currency. Reaching this milestone is testament to the strength of our brand, our long-standing DOCS strategy and the hard work and dedication of our fantastic people globally. Direct to consumer is now more than half our revenue and the Dr. Martens brand remains strong with all key metrics either ahead of, or in line with, last year. In EMEA and Japan, where we executed our strategy well, performance was very good with encouraging momentum going into the new financial year,” said Kenny Wilson, Chief Executive Officer.
This year, the management has decided to propose a final dividend of 4.28p, taking the total dividend to 5.84p, up 6%; intention to commence initial share buyback of up to £50 million.
For the upcoming year FY24, the company has kept the revenue guidance unchanged from mid to single high digit. However, the group has estimated a marginal decline in the EBITDA margins by 1% to 2% in FY24 as compared to FY23, considering the requirement of capital expenditure and supply chain issues.
Stock Price Performance
The stock has witnessed a fall of ~12.23% in the last one month and over the last six months, it has fallen by ~35.62%. The stock has a 52-week low and 52-week high of GBX 117.30 & GBX 295.29, respectively.
Data Source: EODHD/Others, Analysis done by Kalkine Group
Please note markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 30 June 2023. The reference data in this report has been partly sourced from EODHD/Others.
