The Edinburgh Woollen Mill has unveiled a rise in group pre-tax profits and has revealed plans to open 100 stores.

Edinburgh Woollen Mill, which owns more than 1,000 stores including the Peacocks and Jane Norman chains, as well as its eponymous knitwear outlets, opened 34 shops last year and plans to open another 100 here and overseas in the next two years.

The group, famous for its Harris Tweed and cashmere, saw profits hit record levels for the second successive year with an increase of 25.7% to £71.3 million in the year to March 1st.

Group turnover dipped 2.7% to £551.9 million, due mainly to the closure of a number of poorly performing stores and was also affected by the temporary closure of one of the largest Edinburgh Woollen Mill stores due to a fire. Like-for-like sales were ahead of the previous period.

Sales at value chain Peacocks increased 4% to £324.9 million, while online sales were up 221%.

The company made no comment on trading at the Jane Norman chain which was put into administration this summer, about three years after Edinburgh Woollen Mill rescued it from the same fate. The brand continues to trade online and via a handful of department store concessions after closing its 24 high street outlets.