'Difficult' period for Bhs as profits fall 54%

Billionaire UK retailer Philip Green today conceded that his Bhs chain had been through a “difficult” period after annual operating profits fell 54%.

Mr Green, who did not pay himself a Bhs dividend for the second year running, said mistakes with ranges – particularly in womenswear – cost the business as like-for-like sales fell 7.1% in the year to April 1.