Brait's new buy New Look posts big profit rise

June 2, 2015 6:56 AM

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LONDON, June 2 British budget clothes retailer New Look, snapped up last month by African investment heavyweight Brait SE, posted a big jump in full-year profit on Tuesday.

New Look, which vies with Primark, Next and H&M on UK high streets and trades from another 200 stores across Europe, North Africa, the Middle East and Asia, said pretax profit for the year to March 28 rose to 50.6 million pounds ($77 million), up from 20.7 million pounds a year ago.

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