TM Lewin’s global spread lifts revenue

Business clothing company TM Lewin’s sales revenue hit the £100m mark for the first time ever in the year ending 26 February, due to its expanding international market.

The firm’s sales revenue jumped 20 per cent to £100.4m, of which 87 per cent came from UK stores and 13 per cent from overseas.

Earnings before interest, tax, depreciation and amortisation rose five per cent to £14.7m.

While the company’s gross margin decreased slightly due to increases in VAT and cotton prices, the strong financial performance continued into the first half of this year with overall sales up nine per cent, of which 26 per cent was from outside the UK.

The retailer boasts 100 stores in the UK and seven in Singapore and Malaysia. It intends to open five more in Australia and Czech Republic as part of its international expansion plan.

TM Lewin aims to double sales by focusing on overseas and multi-channel sales expansion, with the objective of international sales reaching £88m by 2016.

Chief executive Geoff Quinn (left) said: “Our growth strategy will enable us to realise our ambition of establishing the brand worldwide.”