New Look looks east

Clothing retailer New Look says it is considering expansion into the Europe and the Far East, after posting a robust set of full year results.

Sales grew 14.9% to £1.32bn, including a 1.4% rise in sales in the UK and Ireland.Pre-tax profits were up over 10% at £217m.

However, the company warned that conditions in the UK and Ireland remained challenging.

Speaking to analysts and reporters on the results the company said it was very close to signing deals in Poland and Ukraine and would also be looking to expand into China from its new distribution hub in Turkey.

New Look was bought in 2004 by private equity firms Apax and Permira along with founder Tom Singh.