Foyles has reported a third year of profitability, although earnings fell because of ongoing works outside its flagship Charing Cross Road store.
Pre-tax profits fell to £204,681 from £335,943 in 2010. Turnover at the bookseller declined slightly to £22.8m in the year to June 30 2011 from £23.1m in 2010.
The bookseller said Christmas trading has been positive and sales last weekend were up 5.8% on the same week last year across the six-store chain.
Stores at the Royal Festival Hall and St Pancras International continued to trade well ahead of the previous year and their product range was significantly extended.
Sales at the Charing Cross Road branch in London dipped as a result of disruption from the development of Totenham Court Road underground station.
Foyles chief executive Sam Husain said: “This disruption continues to be of concern. We estimate the sales shortfall at about £1.5m on an annualised basis. However, thanks to particularly strong trading in our other branches, we are only down 0.8% on our previous year.
“We, like many of our fellow retailers on Charing Cross Road, are deeply concerned about the increasing adverse impact on trading in the area.”
Foyles at Westfield in White City was revamped in 2010 which has resulted in a much improved net contribution.
In March, Foyles opened its first branch outside London in Bristol and acquired Grant & Cutler’s Foreign Language business.
Husain said: “It has been a particularly challenging retail environment this year but I am pleased that our business has remained resilient and we have countered the disruption on Charing Cross Road by replacing lost revenue with new business streams.”