Harrods’ pre-tax profit rose from £140.4m to £146.3m for the year ending 31 January, despite “tough trading conditions”, which saw group turnover drop from £794m to £769m.
Harrods menswear revamp
The luxury Knightsbridge department store said gross transactional value – the total amount of money going through the tills, including from concessions – was actually up 1.2% to £1.6bn.
Operating profits were also up 2.9% to £126.5m during the period, according to accounts for Harrods Ltd made available this week.
Harrods’ owner, Qatar Investment Authority, which bought the retailer for £1.5bn in 2010 from Mohamed Al Fayed, received a dividend of £103m, down from £150m last year.