Online fashion retailer EBTM says it has beaten its Christmas sales target and sees profitability on the horizon.

Chaired since the autumn by lastminute.com’s former finance chief, David Howell, AIM-quoted EBTM achieved net sales of more than £350,000 in the six weeks to 22 December, its final shipment day for Christmas. That represents a 275 per cent increase over the same period in 2005 for the company, which uses music to persuade 15 to 30 year-olds to buy clothes over the internet resembling those worn by popular bands.

Chief executive Richard Breeden, a former UK music industry luminary at EMI, proclaims: ‘Music continues to be a key driver of fashion. In the light of current trading, we remain confident that we are poised for a sustained period of positive growth in a fast-growing market.’

EBTM, which floated at 4p in 2005 and raised £500,000 last month at 3.8p, lost £322,400 in the year to last April on revenues of £158,000, but suggests it is now getting into its stride. The company has indicated it expects to start making profits towards the end of this calendar year or early in 2008.

Now 5.88p, up 1.13p this morning, the shares have speculative potential.