Department store profits up by 11%

Department store group House of Fraser improved annual profits by 11% as it drew encouragement from the performance of its recently opened outlets.

The company described its results for the year to January 31 as strong after profits before exceptional items increased to £27 million.

House of Fraser said further progress was expected from its store opening programme, which will see a new outlet at Croydon in September and three more at Dublin, Norwich and Maidstone, Kent.