It seems that all we ever hear about at the moment is how much money the luxury fashion sector is making. But one decidedly low budget, home-grown brand is thriving thanks not, for a change, to Chinese production or consumers, but the generosity of the British public.
Annual trading figures released today reveal that Oxfam's profits have hit a record high despite the tough economic climate and a devastating fire at the charity's Wastesaver textile sorting facility.
READ: Livia Firth named global ambassador for Oxfam
Oxfam stores have seen a five per cent income increase on last year - up £18m to £385.5m - while fundraising income (including donations from supporters, the public and institutional income) increased eight per cent.
At £89.9m, Oxfam's retail sales are £4m higher than last year and the overall contribution from Oxfam's shop network rose to £25.5m, a like-for-like annual increase of 6%.
"Fundraising is tough, and may continue to be so, but we have seen a terrific response from the public" Bob Humphreys, Oxfam's finance director said in a statement, before cautioning "However, we are still urgently seeking more donations in clothes and books to our network of Oxfam shops and to build our base of regular donors. By continuing to increase our income, we can ensure that we continue to help more and more poor and vulnerable people around the world."
Over the past 12 months, Oxfam has reached 15 million people across 55 countries, whether by enabling access to clean water and sanitation, or educating over 2 million people about women's rights. Additionally they have supported 27 humanitarian crises, providing emergency shelter in the wake of disasters and helping victims rebuild their livelihoods.
Last week they named Livia Firth, eco-warrior and wife of Colin, as their global ambassador to help the charity with its campaigning and fundraising work.
Via: Oxfam's profits hit record high
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