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Business News

Crew rows in with a profits jump

Crew Clothing, the private equity-backed fashion chain, has hailed investment in its products and website for driving a sharp improvement in its top and bottom line.

The retailer of casual clothing grew its underlying profits by 8 per cent to £5.4m over the year to 28 October, on sales up by nearly a fifth to £49m.

Octavia Morley, managing director, said: "We are pleased with the positive performance delivered despite the extremely challenging trading environment." Isis Equity Partners acquired 25 per cent of Crew Clothing, as part of a £7.75m deal in 2006.