Globe-Trotter Group Limited

Principal activities and review of the business The principal activity of the Group is the UK manufacture and global retailing of luxury travel luggage and accessories. The Group continues to operate a strong balanced multi-channel sales strategy, supplying a wide range of B2B customers globally, along with flagship retail stores in London and Tokyo, and through global e-commerce. The Group's turnover for the year ended 31 March 2023 was £10,472,715 (2022: £7,302,156) and it has made a loss of £3,893,477 (2022: £5,964,487). Gross profit margins increased to 65.2% from 59.1%. Losses for the year before Interest, Taxation, Depreciation and Amortisation (i.e. EBITDA) were £653,954 (2022 - £3,012,867). Although both revenues and margins increased during the year, the business results continue to be impacted by the consequences of the COVID-19 pandemic, particularly during the first half of 2022. The directors consider that the results of the year and the financial position at the end of the year were satisfactory and note the improving EBITDA performance.