TM Lewin set to tie up record profits and sales

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The Independent Online

The shirt retailer TM Lewin has revealed it is on track to deliver record sales and profits for the year to the end of February 2010 after bucking tough trading conditions this year.

Keith Nesbitt, chief operating officer at TM Lewin, which has 78 stores in the UK and Republic of Ireland, said it was "pleased" with its performance in the 12 weeks to 20 December, although he declined to provide figures. He said: "It will be a record year in terms of sales and EBITDA [earnings before interest, tax, depreciation and amortisation]."

TM Lewin, which also has six franchise stores in Singapore, said pre-tax profits rose to £1.7m in the year to 28 February 2009, up from a loss of £265,420 the previous year.

Its EBITDA rose by 15.5 per cent to £12.7m over the 12 month-period and jumped by a similar amount in the first half of this financial year.

Founded in 1898 in London's Jermyn Street, TM Lewin said that womenswear was a "key focus of expansion", in its annual report filed last week.