The company’s turnover dropped by 1.8% year-on-year to £502.8 million (US$612.26 million), while gross profit was up by 0.8% to £228.1 million (US$277.76 million).

Profit after tax for the financial year totalled £22.6 million (US$27.52 million), a drop of 28% over the previous financial year.

Turnover in the United Kingdom and Ireland was up by 6.5% to £346.5 million (US$422 million), while the Americas brought in £100,000 (US$121,760) in turnover, a 100% increase year-on-year.

Europe fell by 21% to £93.7 million (US$114.1 million) in turnover while the result for the Asia Pacific region was £62.5 million (US$76.1 million), down by 8.2%.

Clarks was acquired by Viva Goods Company (formerly known as Viva China Holdings) in July 2022, and shifted its 2022 financial year to end on December 31, 2022 to align with its new parent company.

The company noted in its filings that pandemic impacts have largely lifted, but a surge in post-pandemic consumer demand could not be met due to ongoing global supply chain issues.

It also pointed to an increase in overheads for its profit decline, particularly following a fiscal year with pandemic-related government financial support.