Jaeger halves annual losses

Michael Bow
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TROUBLED fashion chain Jaeger yesterday said it had stopped the rot after stemming losses last year and putting in place new management.

The company, which was acquired by private equity group Better Capital last year, said post-tax losses for the year ending February were £13.1m, down from £35.5m. Overall turnover fell to £70.7m from £85.5m while group profit fell to £40.9m from £49.3m. New chief executive Colin Henry was appointed in July to turn around the British firm.