Profit up 70% at Debenhams

Department store Debenhams reported a 70% hike in annual profits today but said a combination of the World Cup and a lack of strong fashion ranges had an impact on sales in the summer.

Reporting its first full-year results since returning to the London stock market in May, Debenhams said pre-tax profits rose to £112.8m (€168.3m) for the year to September 2.

Total turnover grew 7% to £2.19bn (€3.3bn) but like-for-like sales were flat at 0.5% compared to a 3% increase the previous year.

Debenhams was delisted following a private-equity takeover in late 2003.