Fashion retailer Phase Eight has reported its first full year financial statement since South African retail group Foschini bought it in January 2015.

Figures show that sales increased 24% in the 14 months to the 2nd April. Meanwhile EBITDA grew 27%, partly driven by 46 new stores opening overseas, with growth in the Asian market, particularly Hong Kong, Singapore and Japan, as well as the US, the Middle East and mainland Europe.

Ben Barnett, chief executive said it had been an “excellent” year for Phase Eight.

“Our continued focus on delivering exceptional product and service, both offline and online has allowed us to grow our customer base, supporting our global sales and profitability.

“As such, the brand remains extremely well positioned for the next phase of its development.”

On the current financial year, managing director Lee Harlow said it “has started very well, with warm weather in the UK proving no barrier to a strong reaction to our autumn collections through the season to date.”
Phase Eight now have 555 points of sale which include 13 online channels.