Belstaff increased turnover by 3.8% to £56.7 million from £54.6 million in the year ended 31 December 2025, while pre-tax losses narrowed to £3.6 million from £15.9 million, largely driven by lower finance costs.
The figures cover Belstaff International Limited, which owns the brand’s trademark and oversees functions including product design, merchandising and marketing.Â
The reduction in finance costs was the main driver of the improvement in pre-tax losses, with interest payable and similar expenses falling to £2.05 million from £18.52 million.
The company recorded an operating loss of £3.75 million, compared with an operating profit of £593,246 in 2024.
Revaluation of intercompany loans in foreign currencies generated substantial gains that benefited the 2024 operating result. Belstaff said that, excluding those prior-year gains, its underlying operating performance improved, aided by stronger gross margins and continued cost management efforts.
Gross profit increased to £16.67 million from £15.35 million. The company said the margin improvement reflected efforts to protect product margins and manage inventory. Year-end stock declined to £6.47 million from £12.14 million, which it attributed to inventory management and stock optimisation.
UK revenue rose to £32.92 million from £32.44 million, while revenue in the rest of Europe increased to £21.20 million from £19.35 million. Rest-of-world revenue fell to £2.59 million from £2.81 million.
J. Carter Sporting Club Limited, the parent company of Castore, acquired the company on 28 August 2025. The directors expect integration into the wider group to deliver synergies and support expansion worldwide.
Belstaff’s strategy aims to reinforce its brand image and heritage, with a renewed visual identity, new product categories and technical fabrics. Belstaff is refurbishing its existing store portfolio to align it with the new design, while reviewing the wholesale customer portfolio to develop partnerships consistent with the brand, increase awareness and maximise returns.
Subsequent developments include a signing for a 2,500 sq ft store at Caledonia Park Designer Outlet in Gretna, Scotland, reported in July 2026. Chief Executive Kerry Byrne also stepped down in May 2026 after one year in the role.