Moss Bros sees sales growth

Mens formalwear retailer Moss Bros announced the company has seen a steady

rise in sales and is expecting to be on track with expectation in 2014.

The company, which specialises in suiting and occasionwear, said it achieved a trebled growth in pre-tax profits. The company added its sales in 2013 were slightly behind 2012, but its online sales were ahead.

Pre-tax profit jumped to 3.1 million pounds in the year to January 26, from near 1 million pounds a year ago. Operating profit grew to 2.9 million pounds from 0.977 million last time.

Net profit, however, fell to 2.4 million versus 6.9 million pounds a year ago.

In its trading statement the retailer said it will continue to roll out its store development programme and develop its e-commerce multi-channel offering.

The group's performance “continues in line with market expectations, and although mindful of the fragile economy, the business is on course to deliver further growth,” it said.