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Fashion and footwear retailers make top profit growth list

Online retailer The Hut Group has taken the top spot in this year’s BDO Profit Track 100 report for the second successive year, recording an average profit increase of 217% over the past three years.

The Cheshire-based firm, which owns several websites including MyBag.com, started the year by investing £100m in a new distribution and manufacturing centre in Warrington and pledging to create 2,000 jobs over the next three years.

In its results for the year to December 31, 2013, sales were up 34% to £176.4m. However, revenue figures were not provided.

The Hut Group is joined by three other fashion retailers in the league table published by The Sunday Times. It ranks UK-registered private companies with the fastest-growing profits above £3m, based on their last three years of available accounts.

Kidswear retailer Childrensalon came in at number nine, with a 100% jump over the period. Last year alone, the business posted an operating profit of £5.7m. Last month it relaunched its website, which it predicts will drive turnover up 47% year on year to £42m in 2015.

Edinburgh Woolen Mill fell just short of the top 30, coming in at 32, but totted up the third biggest profit in a single year of the whole report at £71m in 2014.

In 2012 EWM acquired womenswear brand Jane Norman before putting it into administration two years on. It also owns the value chain Peacocks, which it now counts as its largest business.

Heritage footwear brand Loake achieved annualised profits of £3.8m last year. In 2011 the Northamptonshire manufacturer opened its first bricks-and-mortar store in Princes Arcade in Piccadilly, London.

Plus size womenswear retailer Yours Clothing made the Profit Track’s ‘Ones to Recognise’ top 10, having achieved a £2.7m profit in the 52 weeks to February 2014.

The separate tally showcases companies that may not have achieved the minimum growth for the Profit Track 100 over three years, but have had or predict a good profit growth.

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