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LONDON, June 2 (Reuters) - British budget clothes retailerNew Look, snapped up last month by African investmentheavyweight Brait SE, posted a big jump in full-yearprofit on Tuesday.
New Look, which vies with Primark, Next andH&M on UK high streets and trades from another 200stores across Europe, North Africa, the Middle East and Asia,said pretax profit for the year to March 28 rose to 50.6 millionpounds ($77 million), up from 20.7 million pounds a year ago.
Group revenue rose 3.4 percent in the period to 1.4 billionpounds with sales at UK stores open over a year up 5 percent.
Last month Brait, whose top shareholder is South Africanretail mogul Christo Wiese, agreed to pay $1.2 billion for a 90percent equity stake in New Look.
New Look is expanding in Europe in countries such as France,Poland and Germany, and has big plans for China too where itoperates 30 stores and wants 70 in total by March next year.
The firm said it had been pleased with early summer trading.
Following the deal with Brait, New Look said it wasevaluating ways to optimise its capital structure to reducecosts.
($1 = 0.6572 pounds) (Reporting by Neil Maidment; Editing by Mark Potter)
