Aquascutum was trading as its first year under YGM Trading

Aquascutum was trading as its first year under YGM Trading

UK luxury brand Aquascutum has reported a net loss in its first trading year as costs weighed on the firm's bottom line.

In its first full trading year since being sold to the owner of the brand's licence in Asia, YGM Trading, Aquascutum recorded a loss of GBP2.5m (US$4.2m) in the year to the end of March.

This was despite generating revenues of GBP8.7m in the 12 month period.

"The Aquascutum brand has a strong positioning in the international arena," the company said in its filing. "The directors plan to build on Aquascutum's rich and long history for outerwear and tailoring and believe it has the potential to expand its retail, wholesale and licence business in both existing and new markets as well as for new product categories."