16/04/2002

Debenhams plan 1,000 new jobs as profits grow

Leading high street retail chain, Debenhams have released plans to create 1,000 new jobs after revealing a 14 per cent rise in profits.

While the company has plans to open four new stores within the coming year in Basingstoke, Redditch, East Kilbride and Inverness, it is considered unlikely that Northern Ireland will see a jobs boost under current expansion plans.

Interim pre-tax profits increased to £92.1 million, from £80.8 million while total sales grew by 8.1 per cent to £937.9 million, from £867.4 million.

While, analysts voiced fears that the company could buckle under the challenge from a resurgent Marks & Spencer, chief executive Belinda Earl said sales remained strong, with like-for-like growth holding steady at around five per cent in the past six weeks. (MB)

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