British high street giant Bhs on Wednesday revealed it almost tripled its full-year profits to £100.2 million thanks to strong women’s wear sales and announced the departure of chief executive Terry Green
The group said operating profits soared from £33.2m with sales up seven per cent to £851.3m and with like-for-like turnover up 5.4 per cent. That has also climbed 5.7 per cent over the first seven weeks of its new fiscal year.
Like-for-like sales of women’s fashions soared 25 per cent with operating margins up from 4.2 per cent to 11.8 per cent and net debt slashed from £125m to £14m.
Bhs said Terry Green would leave the company at the end of June and will be replaced by finance director Paul Coackley.