THE retail entrepreneur regarded by many as the most powerful man in the high street has lined himself up for a multi-million pound payout.

Billionaire Philip Green's Bhs chain revealed record performances which will give him the lion's share of a £214m pay-out to shareholders.

Mr Green last month chose to forego a dividend from the Burton-to-Topshop group Arcadia. He and his family own 94 per cent of Bhs.

The man with the Midas touch recently pulled out of the race to buy supermarket chain Safeway, leaving the way clear for Wm Morrison to buy the company after a protracted takeover saga.

Bhs said yesterday that it was on course for further profits growth as it reported results for the year to March 29, which showed operating profits before goodwill and other issues rising to £105.5m - the highest level in its 75-year history.

Mr Green said: "We continue to develop our supply chain and speed to market to ensure improved quality and value is delivered to our customers."