Harrods returns to profit

Harrods Limited, the business behind Harrods’ Knightsbridge department store, has posted a pre-tax profit of £51 million in the year to January 2022 after it benefited from a surge in sales following the ending of Covid-19 restrictions.

This compares to a loss of £68 million in the previous 12 months.

Sales increased by 35% to £582 million in the period as international travellers, including wealthy shoppers from the Middle East, returned to shopping in-store.

The company also doubled the pay of Harrods managing director Michael Ward to £2.3 million in the year.

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