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TM Lewin beats slump with record results

TM Lewin, the shirt retailer, saw sales rise by 14% to £63.4m and EBITDA grow by 21% to £11m for the year ended February 23.

TM Lewin said it had continued to buck the retail slowdown with first quarter sales since the year end ahead by 16%.

TM Lewin chief executive Geoff Quinn said: "The high level of investment in time and money which has been made over the last year is now delivering substantial results, as we benefit from the business improvement programmes we have put in place as well as providing a springboard for further growth. We believe that we can continue to grow our market share whilst building sales and substantially improving profits."

Quinn added: "We are pleased that the current financial year has started well. Whilst 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."

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