Demand boosts Lakeland profits

Lakeland, the kitchenware mail order and store group, enjoyed a near 9 per cent increase in profits before tax in the year ending December 2002.

Profit before tax grew from£8.5 million in 2001 to£9.3 million, while turnover rose from£85.2 million to£95.6 million, according to figures filed at Companies House.

Marketing director Julian Rayner said that the rise could be attributed to buoyant consumer demand more than any strategic change.

Plans to add five stores to Lakeland's 25-strong portfolio have not materialised, although it will open a 7,000 sq ft (650 sq m) store in Handforth near Manchester by January.

Lakeland will also open a shop at its Windermere headquarters, which is being rebuilt for completion next spring.