British department stores group BHS posted a 3 per cent rise in annual operating profit today and said like-for-like sales had improved in recent weeks, despite difficult trading conditions.
The chain, which has previously made big dividend payments to its billionaire owner Philip Green, said it made an operating profit of £50 million (€72 million) in the year to March 31st, but would not be paying a dividend for the period.
Like-for-like sales fell 1.5 per cent during the year, but were flat so far this financial year, including a 3 per cent rise in the latest six weeks, it said in a statement.
Total sales rose 1.4 per cent to £872.5 million pounds (€1.3 billion).