Arts and crafts retailer HobbyCraft profits almost doubled in the year to February 21.

Pretax profits surged from £5.2m to £10.2m in the year.

Turnover jumped from £68.7m to £84.4m as the retailer opened nine new stores, taking its store count to 47.

The retailer has flourished throughout the downturn, and was snapped up by Bridgepoint Capital, who paid more than £100m for the retailer in April, as revealed by Retail Week.

Earlier this month Retail Week revealed that Simon Burke, executive chairman of Irish grocer Superquinn, is to become chairman of private equity-backed HobbyCraft in December.

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