Barbour pays founding household £30m in dividends after annual income shoot up by 26%

Barbour paid its founding family £30million in dividends last year after its annual profits shot up by 26 per cent, accounts show.

The wax jacket maker beloved of the country set and favoured by royalty including the Princess of Wales, has soared in popularity thanks to tie-ups with stars such as Alexa Chung.

Pre-tax profits for the year to the end of April rose from £36.4million to £45.8million, thanks to cost cuts, foreign exchange gains and higher interest rates boosting returns on its cash reserves.

As a result, it paid £30million in dividends to the Barbour family, who founded the business in 1894 and continue to control it. The previous year no dividends were paid.

Traditionally a staple of the upmarket country set and sported by royalty including the Princess of Wales (pictured), Barbour’s popularity has soared in recent years

Although profits climbed, turnover fell 6.2 per cent to £321.8million.

Performance outside the UK, Europe and North America was the standout, up 22.5 per cent to £81.4million. 

Europe turnover climbed from £79.5million to £81.4million but UK sales slumped 13 per cent to £164.1million.

‘Despite the current uncertainty and market contraction, we believe in the sustainable long-term growth of our business,’ Barbour said in its accounts. 

‘We believe deeply that there are many exciting and accessible markets around the world.’