Umbro expects a new England shirt to boost sales this year

Pre-tax profit for 2004 was �15.4m ($29.4m).

Umbro, which recently lost sponsorship deals with Chelsea and Celtic, said on Thursday it had signed a new four-year agreement with Scottish club Rangers.

It hopes 2005 sales will benefit from the launch of a new England replica shirt ahead of the 2006 World Cup.

In January, Umbro announced its sponsorship agreement with Chelsea, which gave Umbro the lucrative right to make replica kits, would end in 2006, five years earlier than expected.

The firm, which is to receive a payment from Chelsea of �24.5m, said it is "appraising a number of additional investment opportunities as a result of this compensation" .

Chief executive Peter McGuigan said the firm plans to grow sales both in the UK and internationally.

In our first year as a listed company, we have delivered record results Peter McGuigan, Umbro chief executive Latest Umbro share price

The firm, reporting its first annual results since listing on the London Stock Exchange in June, said the UK market had seen sales growth of 8% last year.

It said the launch of its Evolution X fashion range had boosted sales.

Umbro supplies more than 150 teams across the world including the national sides of Ireland, Sweden and Norway.