Department store operator Debenhams is forecasting a full-year pre-tax profit of GBP150m (US$231m), which would represent a 20% rise on last year.
The company benefited from a 9.6% increase in group sales, boosted by the contribution of new acquisition Magasin du Nord.
Like-for-like sales were flat, but were buoyed by a late surge in the last ten weeks of the year to 28 August.
“We have said throughout 2010 that this would be a year of change for Debenhams and a year when the structural shift towards own bought merchandise means that we will judge our performance on profit improvement rather than sales,” said company chief executive Rob Templeman.
“With this in mind, I am very pleased with the overall performance of the business this year.”
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