SOUTH-Coast-based discount women's fashion chain New Look nimbly sidestepped the high street slow-turn last year as launches of footwear and lingerie lines kept shoppers spending.

Fast-growing New Look, which prides itself on selling high fashion at cheap prices, saw sales and profits jump as it kept a tight control on stocks.

Sales promotions like its Clothes For £1 campaign proved popular.

The Weymouth-based group, which floated on the Stock Exchange last June, rolled out its first lingerie and shoe ranges to 90 per cent of its stores, where they made up five per cent of its annual revenues.

Jim Hodkinson, chief executive, said: "We are clearly positioned amongst the winners.'' Pre-tax profits in the year to March 27 were £44.2 million, compared with £38.8 million the previous year.

Turnover was £366.9 million, compared with £322.7 million the previous year. Shareholders will pick up a total dividend of 5.5p a share, compared with 4.95p the previous year.

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