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Arcadia's profit rises on Topshop expansion

Philip Green's Arcadia reported a 5% rise in annual profits
Philip Green's Arcadia reported a 5% rise in annual profits

Retail tycoon Philip Green's Arcadia today reported a 5% rise in year profit, helped by the international expansion of its Topshop chain. 

The group also owns the Topman, Dorothy Perkins, Wallis, Miss Selfridge, Evans and Burton brands.

It said it made an operating profit before goodwill and exceptional items of £251.6m in the year to August 29, up from £238.4m 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, with sales at UK stores open over a year down 0.9%. 

Topshop/Topman opened five new stores in the US in the 2014-15 year, taking the total to nine. 

Some 34 new overseas franchise outlets for Topshop/Topman were also opened.