Clintons generated pre-tax profits of £5.6m in the first eight months under its new ownership.

Documents published at Companies House cover the eight months to February 2 after it was acquired by American Greetings in June last year.

They show that the greetings card retailer generated sales of £153.4m, while pre-tax profits after exceptional items hit £10.3m.

Clintons was acquired out of administration by a subsidiary of its biggest supplier, American Greetings, saving 388 shops out of its original 784 store estate.

Clintons said it has worked on rationalising the store estate, renegotiating rents and reinstating the store supply chain.

The retailer said that the primary objective is to deliver “sustainable long-term profit” by improving and developing product ranges and creating a “more relevant” gift offer.

It aims to improve the customer experience through its new red stores and implement new systems and controls to provide tools to manage operating expenses and inventory.

Clintons introduced the red fascia, replacing its well-known orange branding, in July 2012, and the new stores feature improved design and merchandising.

Last week Clintons marketing and ecommerce director Tim Fairs told Retail Week that halfway through the retailer’s three-year plan it has a “format and formula that works”.