Iconic bookstore Foyles has announced that it is looking to open new branches and develop staff as it continues to grow on the success of its flagship store.

In the year to June 30th, turnover grew 4.3% whilst gross profit was up 0.6%, reflecting a tight reign on costs after the re-location of the flagship store to its current location on the Charing Cross Road in 2014. Other locations include Westfield Stratford City, London Waterloo Station, Royal Festival Hall and Bristol Cabot Circus as well as two outlets in Birmingham.

Paul Currie, chief executive of Foyles, said: “We have returned the business from being at a loss in a year of great change to a position of profit and stability. This has been achieved through careful cost control and smart operating processes, with thanks to our customers for their continued loyalty.”