Clothing retailer New Look plans to open 50 more stores in China over the next year on the back of a “strong” response in the country.
The firm said that overall revenue grew by 5.4 per cent year‑on‑year to £1.49 billion in the 12 months to 26 March, while pre-tax profit jumped 16.8 per cent to £59.1 million.
It also noted non-recurring exceptional transaction costs of £94m relating in part to its purchase by Brait last year.
Anders Kristiansen, New Look’s chief executive, said it had been a “milestone” year for the business. “With the support of our new owners Brait, we have made continued progress against our strategic initiatives as we develop New Look into a truly global brand.”