Harrods

Upmarket London-based department store Harrods has reported a growth in both top and bottom lines, with its Qatari owners receiving over a £100m dividend payout.

According to its latest filed accounts for the year ended 30 January 2016, total sales rose by 2.6% to £788.9m from £769m in 2015, whilst gross profit also experienced an uptick of 5.5% to £462.1m from £437.9m last year.

Despite ‘tough trading conditions’ Harrods Limited posted a profit after tax of £129.7m, up by 16.9% on its recorded profit of £110.9m in 2015.

Harrods, which was founded in 1824 and bought by its current owner Qatari Investment Authority back in 2014 for a reported £1.5bn deal, confirmed a dividends payout of £100.1m to its owners, bringing a total of £203.1m in dividends in the last two years.

The Harrods group consists of its world-renowned Knightsbridge store, as well as concessions at London’s Heathrow and Gatwick airports, overseas exports and via its online platform.