Sir Tom Hunter’s West Coast Capital (WCC) investment vehicle, which includes young fashion chain USC and until recently footwear chain Office, moved back into the black in its most recent published accounts.
In the year to January 31, the group reported a £7.6m pre-tax profit compared to a £40m loss the previous year. Sales rose by 3.4% to £216m, with the rise in profits coming from a focus on the company’s bottom line.
WCC sold Office to private equity firm Silverfleet for an undisclosed amount in December. Hunter also rescued designer indie chain Cruise from administration last month and entered into a joint venture agreement with mini-chain Van Mildert in which Hunter personally took a stake.
Parent company West Coast Capital Holdings, which includes Hunter’s 12% stake in House of Fraser, posted a £6.3m profit in the 12 months to March 30, compared with an £83m pre-tax loss in the previous year. Turnover increased by £1m to £40m.
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