By Will Humphries at The Times

A “back-to-thrifty” strategy has paid off for the Japanese owner of Uniqlo as its profits soared by 80 per cent.

Fast Retailing cited upbeat demand at its China stores as winterwear sales picked up, helping to take its net profit to 97.2 billion yen (£712 million) in the half-year to February, up from Y47 billion a year ago.

The clothing group also reported a revenue rise of 0.6 per cent to Y1.02 trillion.

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