£3.6m payday for Paul Smith after a leap in profits

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Smith, who has repeatedly refused offers to float his company on the stock market, pocketed £3.6 million compared with £1.4 million the previous year.

The huge pay deal comes after the company expanded its worldwide presence to 400 stores despite a retrenchment in China, where he closed unsuccessful stores in Shanghai and Beijing amid slim demand and astronomical rents.

Operating profits in the year to 30 June jumped to £14.4 million from £10.7 million a year earlier on sales of £117 million against £102.8 million.

In a brief statement to the Paul Smith Limited accounts filed with Companies House, he said: "Both menswear and womenswear sales have continued to benefit from good sell-through and strong deliveries."

He recently opened for business in the new Heathrow Terminal 5 but is careful about not opening too many stores.

This week, Sir Paul said: "I'm quite good at business and quite good at design, but I'm not fantastic at either."