Arts and crafts chain HobbyCraft’s pre-tax profits rocketed 122 per cent to £6.1m in the 10 months to January 4.

Total sales jumped 10.1 per cent to£57.3m.

In the three weeks to January 4, like-for-likes increased 4.6 per cent. Sales on Christmas products soared 115 per cent over the festive period.

HobbyCraft chief executive Chris Crombie said: “While the retail environment is certainly tough at the moment, we are delighted by our credit-crunch resilient performance. The new year is a popular time to take up a new hobby and we expect to see continued growth well into 2009.

"While many people will fail to keep new year’s resolutions such as going to the gym, due to a lack of time or feeling like a chore, crafting is totally different. Many creative pursuits, such as painting and card making, can be easily picked up and put back down again, fitting comfortably around people’s busy timetables.

“With craft materials being relatively inexpensive to purchase, we are confident that people will be keen to invest in their new hobby, even in these challenging economic times, as it doesn’t have to mean breaking the bank.”