Sir Philip Green will double the size of his Topshop and Topman chains in the next five years.

Green told a gathering of his top management yesterday morning that his Arcadia-owned chains will move into new product categories and geographical markets over the coming years, according to the Daily Telegraph.

Green said that despite the downturn Topman has been the group’s best performing chain. Its mainstream brands including Wallis and Evans have faced a tougher year.

This year he also expects Topshop and Topman to hit the£1 billion mark for the first time.

Yesterday Arcadia announced operating profits had fallen 6.1 per cent to£275.3 million. Sales for the year, to August 30 were down 0.6 per cent to£1.85 billion and down 2.8 per cent like for like.

Green said he had invested£85 million in the business over the year, focusing on new space and developing the brands' web presence.