• Fourth quarter net profit rose 14.4% to $411.39m
  • Sales grew 9.7% to $3.86bn
  • Gross margin increased to 44.5% from 43.45%

Victoria's Secret owner Limited Brands recorded an increase in fourth quarter net profit as sales and gross margin increased.

The company saw net profit rise 14.4% to US$411.39m over the quarter ended 28 January, from $359.4m in the same period of the prior year.

Sales grew 9.7% to $3.86bn, as comparable sales increased 5%. Gross margin increased to 44.5% from 43.45% last time.

For the full year, net income fell to $752.9m from $850.1m last year. However, 2011's results included $702.4m attributable to its Mast apparel sourcing business, which was sold in November 2011.

Revenue was $10.45bn, compared to $10.36bn in 2011, with comparable sales increasing 6% over the year.

The company expects 2013 full year earnings per share to be between $2.92-3.12, up on the adjusted EPS of $2.60 recorded for the 2012 financial year.