The new owners of British department store chain Debenhams have reported a sharp jump in profits in the first set of results since it was taken private.
Debenhams is now owned by a group of private equity companies, who said trading profits grew by 14% to £184.7m with turnover up 5% at £1.9 billion in the year to August 28.
The company, which was acquired for £1.7 billion in December, also said sales had continued to improve since the end of the financial year.
It also pledged to accelerate its store opening programme, with 20 new outlets due to open over the next four years and a trial of new mini-Debenhams stores expected to take place in the spring.
Pre-tax profits more than doubled to £300.5m, although this partly reflected property transactions.
