UK's Harrods sees rise in FY profit, decline in turnover
Iconic luxury department store Harrods reported an increase in profit but fall in turnover in the year to January 31, 2015.
Profit in the period rose from £107.7m to £114.5m, with profit before taxation increasing to £146.3m from £140.4m. However, turnover was down from £794m to £769m.
Harrods also declared a dividend of £103m, down from £150m in 2014. The company said that despite "tough trading conditions," operating profit was up 2.9% to £126.5m. It saw a confirmed program of capital expenditure in the year, with total additions of £48.6m, and expects to continue this level of capital expenditure in 2015.
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