Bra tycoon Michelle Mone yesterday said that her MJM International company last year lifted profits to a record high and insisted 2008 would be "even better" as she pushed towards opening 100 stores.

Bra tycoon Michelle Mone yesterday said that her MJM International company last year lifted profits to a record high and insisted 2008 would be "even better" as she pushed towards opening 100 stores.

"It was our best year ever," said Mone, in a telephone interview with The Herald yesterday. "Profits were up, turnover was up and we opened a fantastic new headquarters at Peel Park in East Kilbride."

She also said the company, which opened 10 stores with high street giant Debenhams last year, plans to hit 100 over the next 18 months.

MJM's website advertises Mone as "one of the world's leading and successful professionals". However, only a limited amount is known about her company because its accounts are filed under Companies Act provisions allow-ing small firms to publish abbreviated statements.

The latest accounts, obtained by The Herald from Companies House, reveal MJM made a retained profit of £231,913 for the year to the end of April 2007, but little else.

However, Mone yesterday said: "We did considerably better than that at the pre-tax level, but we're a private company, so we'll just have to leave it at that.

"But I can tell that it was a record year for us, and this year is going to be even better."

However, the accounts also show that the company owed its creditors £2.2m repayable within 12 months.

A note at the end of the abbreviated statement revealed that Mone and her husband, Michael, had risked their personal wealth with an "unlimited personal guarantees as securities for bank borrowings to HSBC" to expand the high-profile lingerie business.

However, Mone said: "That was the situation in April last year, but is no longer the case.

"We are now debt-free, which is a very nice place to be. To tell you the truth, we're really having a ball and we're enjoying being at the top."

MJM owned just one brand in 2004 - the Ultimo gel-filled bra which made Mone's name - but the company now has 38 staff in the East Kilbride headquarters and eight brands, including Ultimo, Young Attitude, Michelle at George, Per Amore and Adore Moi. Mone said that a new brand, Miss Ultimo, would be launched over the next weeks.

She also said a new big-name model had been signed for Ultimo, but that she would be "even bigger" than Sarah Harding from Girls Aloud, the current Ultimo model. She will follow in the footsteps of Helena Christensen, Rachel Hunter and Penny Lancaster.