Charity shops are defying the downturn as consumers shun the high street for second-hand bargains, reporting a profit hike of 7.4 per cent to £106.7 million.

The Charity Finance Shops Survey 2008 out this week, which sampled 72 charities, found that the overall income of charity shops rose 5.7 per cent to£534.3 million for the year to March. Average profit per shop per week increased£20 to£370.

Association of Charity Shops head of policy and public affairs David Moir said: “Charity shops have a very broad church of customers – I would think they would attract people from all walks of life.

“Cash-strapped consumers are looking for that value buy and if charity shops continue to respond to their needs by offering quality and value, then they will be well-placed to come out of this downturn in a good position.”

However, he added that charity shops, like other retailers, are not immune to the economic crisis.

“Charity shops have been doing steadily well for a few years, but trading conditions are now extremely tough,” said Moir.

Oxfam stores are the most profitable charity shops, followed by Cancer Research UK and the British Heart Foundation.

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