Pre-tax profits halve for Devon department store following turnover fall

6th August 2009 | department stores | Tiverton and Barnstaple furniture and department store retailer Banburys returned slimmer profits in the year to the end of January as turnover dropped slightly on 2008.

The retailer, a complete house furnisher that stocks brands including Alstons, Silentnight, Brintons and G-Plan Upholstery, saw pre-tax profits drop to £52,079 from £101,287 a year ago. No turnover figure was filed but it is estimated to be between £4m-£4.5m. The firm said turnover from continuing activities had decreased slightly on the year to January 2008.

It is the firm’s lowest pre-tax profit for four years, but still an improvement on 2005 and 2004, when the firm returned pre-tax losses of £111,979 and £82,626 on sales of £6.1m and £5.2m respectively.