SHARES in fashion group Quiz Clothing jumped almost 10 per cent in early trading as it reported a 30 per cent increase in underlying pre-tax profits in its first published accounts to the stock exchange since its July flotation.

Quiz’s underlying pre-tax profit in the six months to September 30 was £4.8 million. Revenue climbed 35 per cent to £56.1m, driven by a 205 per cent boost in online sales.

Online and international growth were cited as key areas for expansion by the Glasgow-based group when it floated on the Alternative Investment Market (AIM).

Chief executive Tarak Ramzan said the executive team was delighted with the results, revealing that as the group headed into the Christmas trading period, sales were up 33 per cent in the weeks since the first half ended.

“Online in particular has been very strong and international was good,” he said. “And stores and concessions have grown with the same amount of selling space as 12 months ago so we’re very pleased and we go into this period with strong momentum.”

Online sales in the period climbed to £13.8m from £4.5m and the online customer base grew by 85.5 per cent to 262,000. This is expected to grow with the recent launch of mobile apps, which the group said had had “an immediate positive impact” on sales.

International sales grew 12.3 per cent to £10m with three stores opening in Spain. The brand has focused its expansion on Spain and the Republic of Ireland but has announced plans to roll out in the US in 2018.

Chief operating officer Sheraz Ramzan said: “Spain has had an encouraging start and going forward we’re going to have territories in the Middle East and Asia. There are a lot of opportunities there so we’ve got plans to continue developing the international brand in existing and new territories.”

In the UK, sales in stores and concessions were up 35.2 per cent to £32.3m with five new stores and seven new concessions opening.

Accounting for the costs of the initial public offering (IPO), reported pre-tax profit was in line with the previous year at £3.7m. The group confirmed in its report that a maiden dividend would be announced with the results for the year ending March 2018.

Quiz has developed a so-called omnichannel business model where sales in stores and online are given equal billing. The group targets the fast-fashion market, selling occasion and casualwear for women, and recently moved into the bridal market.

Looking to Christmas, Mr Ramzan said: “We go into this period with great momentum, we all know that this period is crucial for all retailers but we have a fantastic offer, a compelling proposition, so we’re expecting to hit the growth we’re looking for.”

Mr Ramzan confirmed the company would be involved in Black Friday this week, saying that customers “expect good discounts” but that the jury was still out on whether the event was actually beneficial to the retail sector.

The company floated at 161p per share in July, giving it a market value of £200m. Shares opened yesterday morning at 157.5 and closed up 0.5p at 158p.