Debenhams pre-tax profits slump 24.5%

British retail giant Debenhams has said that continued tough trading conditions in Ireland hampered growth in its international division in the first half of its financial year.

The group yesterday reported a 24.5% annualised drop in pre-tax profit for the six months to the beginning of March, to £85.2m (€103.2m).

In its non-UK, international business — largely comprising its operations here and in Denmark — gross sales growth of 6.8% was achieved. While its Danish stores performed well, “difficult trading conditions in Ireland resulted in a significant decline in gross margin, which impacted profitability”.