Charles Tyrwhitt founder Nick Wheeler pocketed £6.6m last year as profits at the formalwear specialist rose 45.9%.

Sales rose 38.5% to £78.6m in the year to July 2011 as operating profit came in at £7.3m.

Wheeler, who founded the retailer in the 1980’s, earned £6.6m during the year.

Charles Tyrwhitt, which has 14 stores in Britain, plans to open a third store in New York as well as an outlet in Washington.

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