DEPARTMENT store group House of Fraser posted higher profits yesterday but found its progress overshadowed by a sluggish start to the new financial year.
The group, which has 46 outlets, said profits before property gains rose to £28.2m in the year to January 29, up from £27m last time.
Fraser said initial trading for the spring fashion season had been slower than a year earlier but that it was optimistic the situation should improve. It also blamed the slowdown in the housing market for a disappointing start in the home department.
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