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John Lewis PartnershipJohn Lewis Partnership has delivered a 51% rise in pre-tax profits for the first half of 2007 but, in keeping with other high-street retailers, has warned of tougher times ahead. The group's chairman, Charlie Mayfield, said: "We expect a tougher trading environment in the coming months", after admitting that at John Lewis the start to the second half of the year has been more subdued.
Charlie Mayfield, the group's chairman, said: "We expect a tougher trading environment in the coming months", after admitting that at John Lewis the start to the second half of the year has been more subdued.
However, Mr Mayfield was confident of John Lewis Partnership weathering any storm, and said: "Consumer spending is continuing to hold up well against a backdrop of the recent turmoil in the financial markets, higher interest rates and a more subdued housing market. We are confident that our partners will continue to set us apart from the competition, enabling both our busineeses to achieve further growth."
Overall, the group's pre-tax profits, which includes those of Waitrose, rose 50.6pc to £146.4m.
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