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Fenwick profits up 16%

Fenwick, the department store group, saw pre-tax profits rise 16% to £41.7 million for the year ended January 25.

Fenwick said net sales, which includes sales generated by concession partners, rose 2.7% to £350.3m over the period.

Fenwick's turnover, excluding concessions, rose 1% to £283.2m for the year.

In accounts filed at Companies House today, Fenwick said in a statement: "The directors believe that the external commercial environment will continue to be competitive but remain confident that in the future the group will maintain the current level of performance."

Fenwick bought independent department store Williams & Griffin in Colchester earlier this year.

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