April 15, 2014 / 6:15 AM / 3 years ago

Debenhams first half profit falls by a quarter

LONDON, April 15 (Reuters) - Debenhams, Britain’s second largest department store group, said it was confident improvements it was making to its business would deliver some cheer for investors, as it posted a 24.5 percent fall in first half profit.

The company, which has 240 stores in 29 countries, said on Tuesday group pretax profit for the 26 weeks to March 1 was 85.2 million pounds ($142.58 million), down on the 112.8 million pounds posted a year ago.

The fall was in line with guidance given in a December profit warning when the firm said its margins had been hit by heavy discounting that nonetheless failed to spark a late surge in festive spending.

$1 = 0.5976 British Pounds Reporting by Neil Maidment; editing by Kate Holton

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below