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New Look secures rise of 18% in annual profits
03
Jun '10
After securing a hike of about 18 percent in the yearly profits, fashion apparel chain, New Look, is hoping to generate more 1,500 jobs this year.

Although earlier, the company discarded its intentions to generate £650 million with its sotck market listing, on June 2, 2010, it announced an operating profit of £163 million for the year ending March 27, 2011.

Also, the like-for-like sale increased by 1.2 percent but company's Chief Executive, Carl McPhail was still wary about the future year.

According to McPhail, he was not in a position to give out a ruling on the renewal of February's postponed flotation that the firm, led by Gossip Girl star, Taylor Momsen, for the second time in a row, put on hold a stock market listing

More so, there were banks that depended on the stock market listing, but they were not acting on it immediately.

Fibre2Fashion News Desk - India


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