Toys R Us has recorded a fourth consecutive profit drop in the UK as pre-tax profits for the year ending February 1, 2014 fell 24% to £4.55m.

The toy retailer made a net operating loss of £5.2m during the year, down from an operating profit of £10.78m the year before. In the prior financial year pre-tax profits fell almost 50% from £11.44m to £5.98m.

Its turnover has also continued to drop with sales sliding 7% from £461m to £428m year on year. In comparison, its sales were £476m for the year ending January 29, 2012.

Sales dropped despite it having the same amount of stores open at the year end, with its store estate standing at 80 for the year ending February 1. It also operated four seasonal temporary stores.

Its continued profit drops have been attributed to it being unable to compete with online rivals such as Amazon and supermarkets including Tesco and Asda entering the toy market.