A return to parties, weddings and other big social occasions helped to improve performance at Quiz.
The clothing retailer said its revenue had more than doubled to £36 million in the six months to September as the UK emerged from lockdown.
That uplift in turnover and better margins helped it narrow underlying pre-tax losses to £1.3 million, compared with a loss of £5.6 million.
The Glasgow company was founded by Tarak Ramzan, 68, in 1993 and he remains as chief executive.
Quiz floated on Aim in 2017 but has been struggling more recently with changing high street dynamics and the impact of Covid-19 on retailers. It runs more than 61 stores across the UK and Republic of Ireland as well as supplying 72 concessions in other shops.
Advertisement
There have been concerns about its supply chain after The Times reported textile workers in Britain were paid £3 per hour to manufacture garments.
It has appointed an ethical compliance manager and yesterday said it is keeping a close eye on suppliers.
Sheraz Ramzan, the chief commercial officer, suggested consumer appetite for party clothes and occasion wear had bounced back quickly.
He said that has continued into October and November with revenue for those months at £16.2 million, a 108 per cent rise compared with 2020.
He said: “Since the restrictions have gone away we have seen demand bounce back quite strongly.
Advertisement
“We have brought in a new design team, moved the ranges on quite a lot and they are performing well.
Gerry Sweeney, the finance director, said Quiz has continued to improve its liquidity with a net cash balance of £4.2 million at the start of December, compared with £1.5 million in March. Shares in Quiz fell ¼pto 18¼p.
