Warehouse owner Aurora posts 11-month profit

Aurora Fashions has posted a profit at its chains including Karen Millen, Oasis and Warehouse, 16 months after buying them out of administration.

The group bought the brands after the collapse of the former owner, Mosaic Fashions, which was backed by the Icelandic investor Baugur. Aurora said yesterday that despite "very challenging" conditions in the UK market it had beaten targets to post an operating profit of £22.6m in the 11 months to 30 January.