Hong Kong-listed fashion retailer ups sales and margins
Hong Kong-listed fashion retail group Esprit increased turnover by more than 26 per cent to HK$20 billion (£1.4 billion) and profits rose 46.3 per cent to HK$4.2 billion (£296.9 million) for the year to June 30.

The company also boosted its net margin to 16.2 per cent.

'We are on our way to making Esprit the leading lifestyle brand name in the world,' said chairman Michael Ying. 'We continue fostering business growth while delivering sold results and setting new records.'

Although Germany and the Benelux nations remain Esprit's core market, the company said that is achieving strong growth in France, Scandinavia and Austria. It has also established a 'firm footing' in Spain, Italy and the Middle East.

Esprit plans to invest HK$900 million (£63.6 million) to open 110 company-owned stores in the financial year and to refit existing outlets.

Esprit - which is having its second crack at the British market - retails from seven eponymous stores in the UK and from 18 outlets in total, including a number of concessions in John Lewis department stores.