Music-inspired multichannel retailer EBTM has appointed a new chief operating officer to drive growth as the company made a profit for the first time.

Stephen Mark joined the business this week to help with its continued expansion. He has held roles at Dolcis, Jaeger and Early Learning Centre.

In its maiden prelims, AIM-listed EBTM posted an operating profit of£903,000 in the year to April 30, compared with a loss of£604,000 the year before.

Revenues jumped 401 per cent to£6.8 million, aided by the acquisitions of music apparel brands Lowlife and Atticus. Online sales soared 37 per cent year on year. Own-brand sales delivered 30 per cent of online revenues.

Chief executive Richard Breeden said: “This year has been transformational. We have seen strong growth from both our original online business and the acquisitions made early in the year.

“The outlook for our business remains positive as online retailing is predicted to grow rapidly.”

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