Fashion retailer Alexon weathered the tough clothing sector with a rise in pre-tax profits, by exploiting market demand for classic brands.
In the year to January 31, pre-tax profits came to£29.4 million, compared with£27.7 million last year, on sales of£416.4 million.
Alexon chief executive John Osborn said there was growing demand for 'contemporary fashion', which is less available on a high street that is focused on young fashion.
Classic Alexon womenswear brands, including Minuet, Eastex and Alex & Co delivered like-for-likes up 1.5 per cent.
Young fashion brand Bay Trading recovered in the second half, because of a wider range, but like-for-likes were down 6 per cent for the year.
Numis said: 'Chief executive John Osborn is extremely experienced, and is a very safe pair of hands to guide Alexon through tough markets.'