Profits up at Debenhams

British department store chain Debenhams says it expects “broadly neutral” trading conditions after first-half profit beat analysts’ estimates.

So-called headline pretax profit increased to £123.6 million in the 26 weeks to February 27th, beating estimates, the London-based retailer said yesterday in a statement.

Net income fell to £80.1 million from £81.2 million a year earlier, after a higher taxation charge.

½“Gross margin performance was much stronger than expected,” said Kate Calvert, an analyst at Shore Capital. – (Reuters)