LONDON, Nov 25 (Reuters) - Retail tycoon Philip Green’s Arcadia on Wednesday reported a 5 percent rise in year profit, helped by the international expansion of its Topshop chain.
The group, which also owns the Topman, Dorothy Perkins, Wallis, Miss Selfridge, Evans and Burton brands, made an operating profit before goodwill and exceptional items of 251.6 million pounds ($379.7 million) in the year to August 29, up from 238.4 million pounds in the previous year.
The results are for continuing operations and so benefit from the exclusion of the loss-making BHS department store chain which Green offloaded to buyout firm Retail Acquisitions in March.
Arcadia’s total sales were broadly flat at 2.07 billion pounds, with sales at UK stores open over a year down 0.9 percent.
Topshop/Topman opened five new stores in the United States in the 2014-15 year, taking the total to nine. Some 34 new overseas franchise outlets for Topshop/Topman were also opened.
In the first 10 weeks of Arcadia’s new financial year total VAT sales tax inclusive like-for-like sales were down 2.3 percent. (Reporting by James Davey, Editing by Paul Sandle)
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