Sales and profits soar
TM Lewin's sales rocketed 42 per cent for the year to February 28, just over 12 months after its£50 million management buy-out.

Sales rose to£55.6 million, against£39.2 million for the same period the previous year. EBITDA shot up 91 per cent to£9.1 million.

Performance at TM Lewin's home shopping division also beat expectations, with online and mail order sales up 44 per cent. Home shopping represents 16 per cent of sales.

Trading in the new financial year has remained strong so far, with sales up 17 per cent for the first quarter.

TM Lewin chief executive Geoff Quinn said: '2006 was a year of considerable change and growth for us. We plan to create an even stronger platform for growth in 2007 with investment in our people, skills and systems. We are confident that the company can build on its specialist leadership position and expand into further growth areas.'

The retailer will open 11 standalone stores by the end of February 2008. TM Lewin has 48 outlets in the UK and hopes to more than double this number over the next four to five years.