DEPARTMENT store chain Debenhams posted an 18.6% rise in half-year profits – and predicted stable trading ahead.
The retailer, which has 164 stores, said pre-tax profits beat market expectations, jumping to £123.6m in the six months to February 27. That compares with £104.2m in the same period last year.
Debenhams said the second half trading environment would be “broadly neutral” for the firm.
The company has looked to focus on its exclusive ranges such as its Designers at Debenhams lines, which include clothing from John Rocha, Jasper Conran, Betty Jackson and FrostFrench.
The move away from concessions boosted profit margins as the retailer gave more prominence in its stores to own-bought products.
Like-for-like sales remained positive with growth of 0.3% continuing throughout the half-year and up to April 3. Total sales for the first six months by rose 11.6% to £1.19bn.
Debenhams said recent industry figures showed its slice of the total market for clothing, footwear and accessories remained stable while chief executive Rob Templeman said the firm was pleased with its performance.
