Icelandic retail group Baugur, which failed in a takeover bid for Arcadia Group earlier this year, on Monday reported a first quarter net profit of 513 million crowns ($5.9m) but did not disclose comparative figures for 2001. The firm, which operates a grocery chain in Iceland and the Scandinavian franchises for British department store chain Debenhams and Arcadia’s banners TopShop and Miss Selfridge, said that figure compared to net profit of 924 million crowns for the 14 months to February.