UK department store group Debenhams showed it was keeping pace with its rivals on the high street today as profits surged 14%.
The retailer, which confirmed plans to create 1,000 jobs this year and has 96 outlets in the UK and Ireland, said sales were continuing to grow despite a more competitive environment.
Total sales in the six months to March 2 were up 8.1% at £937.9 million sterling while like-for-like growth was 5.1%. With margins also nudging ahead, pre-tax profits rose to £92.1 million, at the top end of City expectations and up from £80.8 million a year ago.
Analysts had voiced fears that Debenhams could buckle under the challenge from a resurgent Marks & Spencer.
But chief executive Belinda Earl said sales remained strong, with like-for-like growth holding steady at around 5% in the past six weeks.
