Profits slip slightly at Royal shirt-maker Turnbull & Asser

Turnbull & Asser has made shirts for members of royalty, world leaders, entertainers and captains of industry

Joanna Hodgson28 November 2018

Shirt-maker Turnbull & Asser might count Prince Charles as a client but even royal patronage can’t protect it from High Street woes.

The St James’s firm, founded in 1885, on Wednesday admitted that “the general trading environment was tough last year and continues to be so”.

The business — owned by Ali Fayed (younger brother of former Harrods boss Mohamed Al-Fayed) and his sons — posted a £1.2 million loss for the year to February 3, compared with a £1.1 million loss a year before.

It was hit by a number of one-off costs.

However, turnover still managed to increase to £10.4 million from £10.1 million.

Turnbull & Asser said it is concerned by the uncertainty surrounding Brexit, and added that any significant changes to import costs could impact the business. It is working closely with suppliers and looking at ways to mitigate any disruption in its supply chains.

First half revenue for 2018 is ahead of last year, the company added.