Vardas, a Greek clothes retailer, sees turnover of 9.5bn drachmas ($25.5m) for the fiscal year ending June 30, 2001, a 21 per cent rise year-on-year. Company pre-tax profit is estimated at 1.3bn drachmas ($3.5m), compared to 914m drachmas ($2.4m) for the previous year.

Vardas is heading for stock market listing. The company's IPO is scheduled for March 28-30, 2001.