British fashion retailer French Connection, which operates a shop in Dublin, today said full-year profits rose 20.7 per cent as the group consolidates expansions into Japan and the US.
Pre-tax profit for the 12 months to January was £19.1 million sterling (euro 30.1 million), up from £15.8 million (euro 24.9 million) for the previous year.
Retail sales rose 22.4 per cent to £94.3 million (euro 148.8 million).
The fashion retailer last month accelerated its move into the US market with the purchase of the remaining 50 per cent of its US joint business Best of All Clothing.
"We will definitely be expanding the volume of advertising based on a similar campaign in the US," chief operating officer Mr Neil Williams said.
Mr Williams brushed off concerns the expansion into the US market had been ill-timed given fears of an imminent economic slowdown.
French Connection is also spreading its wings in Japan, having opened its first Tokyo outlet 10 days ago with another two on the cards for the first half of the year.
"The major expansion we see this year [for the Far East] is through Japan," Mr Williams said.
At 9 a.m. the stock was quoted at £6.90, down five pence or 0.72 per cent. French Connection shares have underperformed the wider retail sector by 5 per cent in the year to date.