TM Lewin has bucked the downturn, posting a 14 per cent sales rise and EBITDA up 21 per cent in its full year.
In the 52 weeks to February 28, TM Lewin sales topped£63.4 million and EBITDA was£11 million.
Since the year end, TM Lewin has continued to defy the gloom, posting a 16 per cent sales rise in the 12 weeks to May 24.
Chief executive Geoff Quinn said TM Lewin would continue to increase its market share and improve sales and profits this year.
TM Lewin is to open standalone women’s stores and expand overseas. It is also considering launching a wholesale operation.
“We are pleased that the present financial year has started well,” said Quinn. “While we are ever watchful of the impact of a more difficult economic environment, we have a financially robust business model with strong operational disciplines, which we believe puts us in a unique position to build our business even in challenging times.”
During the year, TM Lewin opened 11 stores, bringing its total to 57. It also launched concessions in eight House of Fraser stores. Home shopping sales soared 27 per cent during the year.