Topshop tops for Arcadia as profits decline

TOPSHOP was the star performer in Ireland last year for retail group, Arcadia which saw pre-tax profits fall from £15.1 million (€17.1m) to £10.6m.

Turnover fell by 5% to £68m and gross profits were 30% lower at £10.6m with the company saying it found trading conditions in Ireland “extremely challenging”.

It said, in accounts just filed covering the year to the end of August 2009, that the Evans and Burton brands that target the mainstream market particularly struggled.