Indebted UK department stores group Debenhams posted an 11% rise in first-half profit and said that, while it remained cautious about the trading outlook, the second half had started well.
Britain's second-biggest department stores chain, which runs over 150 shops across the UK and Ireland, said it made pre-tax profits of £104.2m in the 26 weeks to February 28.
The firm had said in March that first-half profit would top last year's £94.1m, with higher profit margins offsetting a 3.6% drop in like-for-like sales.
Debenhams said like-for-like sales had risen 1.9% in the seven weeks to April 18, with higher profit margins again, helped by strong demand for its Designers at Debenhams ranges. Net debt was down £66.8m to £927.2m.
