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Russell & Bromley profits slip

Russell & Bromley has reported 6.5% fall in pre-tax profits for the year ended December 31 amid rising costs at the retailer.

The footwear company saw sales rise 6.3% to £107.4m but pre-tax profits fell to £19.5m year-on-year due to “increased costs in a period of economic uncertainty”.

The Bromley family, which has controlled the chain since it was founded nearly 120 years ago, paid themselves £6.97m in dividends in 2012, down from nearly £12m a year before.

Russell & Bromley launched its first transactional website in November and has 45 stores nationwide selling a range of men’s, women’s and kid’s footwear.

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