Fashion group New Look will issue full-year results next week.

Fashion group New Look will issue full-year results next week.

They might have been the retailer’s first as a public company. Instead, after the decision in February to postpone an IPO because of torrid market conditions, New Look remains a private equity-owned business.

When the decision not to proceed was taken, New Look chief executive Carl McPhail said the team remained convinced of New Look’s strengths and “suitability as a public company”, and that options would be re-evaluated when conditions improved.

The chances are that New Look will not return to market this year. The timing would be difficult, owing to post-election uncertainty, which is expected to run into the holiday season - by which time autumn will be closing in.

But holding off until next year will give New Look the opportunity to burnish its credentials. Market conditions were volatile when it attempted its flotation.

But the retailer was also hit by anti-private equity sentiment - more in the media than in the City, according to New Look - questions over sustainability of growth in its core UK market, and the pace of growth overseas.

Given that it was gearing up for a float, next week’s results should show earnings growth and enhanced performances from UK shops and the fast-growing multichannel operation. If that is not enough to make potential investors think “I wouldn’t have minded some of that”, then New Look should never have been attempting to float in the first place.

But international performance and prospects will also be key. A big theme of New Look’s growth story, it looked a less convincing narrative than the others. New Look’s Mim business in France has more than once hit problems, while its presence in emerging markets such as Russia is still small scale.

But another year in private hands will give management and owners the chance to show more convincingly why New Look should be a public company.