Jun 8, 2017

Topshop owner sees profits dive by 79%

Profits at Sir Philip Green's retail empire, which includes High Street fashion chain Topshop, plummeted by 79% last year. A report filed with Companies House by Taveta investments showed pre-tax profits for the 12 months to August 27 2016 fell to £36.8m, down from £172.2m the previous year. Taveta's statement reveals its profits were dented by £129.2m in one-off charges. These exceptional costs included £26.4m related to the collapse into administration of BHS in April of last year, and the "Subsequent regulatory investigations", it said. The last BHS store closed its doors last year when no buyer could be found for the chain.

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