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Last Updated: Tuesday, 23 October 2007, 08:16 GMT 09:16 UK
Debenhams sees profits increase
Debenhams store on London's Oxford Street
Debenhams is confident despite wider macroeconomic concerns
Profits at the department store group Debenhams have increased by 11.5% to 131.4m.

The figures for the 12 months to September 2007 include a sales increase of 5.1% to reach 2.3bn.

The firm said it was confident that changes such as refitting stores would help business despite "concerns about the wider macroeconomic environment".

Debenhams' performance has been criticised since it was floated on the stock market in 2006.

In April, the department store firm issued a profit warning following poor sales, in the wake of mild winter weather.

The company's share price has fallen by more than a third since flotation although it climbed 1.7% in early trade this morning.

"Our new Autumn/Winter ranges are being well received and this, together with the refitting of stores and previous investment in a new IT platform and distribution centre, is improving the customer experience," said chief executive Rob Templeman.

Keith Bowman, analyst at Hargreaves Lansdown Stockbrokers said: "Although the jump in the company's profits may be at the lower end of expectations, news that the group has returned to positive like-for-like sales and margin growth should cheer investors".



SEE ALSO
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20 Jul 07 |  Business
Debenhams issues profit warning
17 Apr 07 |  Business
Debenhams upbeat over new range
16 Mar 07 |  Business
Festive sales woe for Debenhams
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'Femme Fatale' revives Debenhams
18 Sep 06 |  Business
Debenhams beefs up Irish presence
08 Aug 06 |  Business
Debenhams shares rise on listing
04 May 06 |  Business

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