FOOTWEAR firm Lambert Howarth has seen profits almost triple after its decision to pull out of manufacturing in East Lancashire.

The firm, which supplies customers including Marks & Spencer, said the £12million pre-tax profit it made last year reflected the benefits of buying overseas instead of manufacturing and the purchase of an accessory firm.

The firm employs around 40 at its Burnley warehouse operation which handles imported products including footwear and homeware.

In 1998 the firm closed its Greenbridge Works, one of the Rossendale Valley's biggest footwear factories, with the loss of 300 jobs, blaming on the strong pound and cheap exports

But the firm said prospects for the group since it stopped manufacturing were much brighter.

"The current year has started well with higher sales and increased order levels," said the firm. "The significant improvement in results this year derives from our successful strategy of overseas sourcing, withdrawal from UK manufacturing and our newly acquired accessory company, where the trading pattern is weighted to the autumn season."

In November the firm announced a £20.2million deal to buy private company Fast Forward, a supplier of accessories such as scarves, handbags and jewellery.

At the time finance director John Gibson said the deal would be good news for the firm's 40-strong warehousing operation in Burnley which handles many of the products supplied to M&S.

Both groups supply their goods from overseas - 90% of Lambert's items are made abroad, while all Fast Forward's products are made by suppliers in the Far East, India and Europe.

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