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TM Lewin returns to profit

Shirtmaker TM Lewin has turned its fortunes around and made a £636,000 pre-tax profit in the year to March 1, 2014, following losses of £1.4m the year before.

Sales edged up to £106.8m from £106.7m in 2013.

During the period the business expanded internationally, opening stores in the Czech Republic, Australia and Singapore.

In September, Chinese textiles firm Shandong Ruyi, part owned by Japanese trading house Itochu, bought a minority stake in the company.

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