Debenhams reports sixth consecutive growth period

Iain Duncan Smith speaking during a visit to Portsmouth

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DEPARTMENT store Debenhams has announced that it has bucked the downward trend seen by other High Street retailers by boosting half year interim profits by 4.5 per cent to £129.2m.

The increase in profits means that the retailer has produced six consecutive halves of pre-tax profit growth.

Debenhams will also be reintroducing a dividend for shareholders and has reduced its debt by £165.2m.

Locally, the Portsmouth store continues to go from strength to strength following a recent refit. There is also a store in Southsea.

Chief executive Rob Templeman said: ‘We are pleased with the performance of the business in the first half. The trading environment has been difficult but our focus on profit and cash generation has continued to deliver returns.’