Debenhams posts profit of €19m after examinership

The Irish arm of UK retailer Debenhams posted an after-tax profit of €19.2m last year following a successful examinership when a large amount of debt was written off.

That is according to new accounts just filed by Debenhams Retail (Ireland) Ltd which show the business recorded a pre-tax profit of €19.6m. That compares with the pre-tax loss of €5.8m in the previous year.

A note attached to the accounts shows that it had an exceptional gain after debts of €16.6m owed to a connected firm were written off. Derivatives comprising forward foreign currency contracts were also written down to zero.