Frasers Group blames profit slump on Brexit and coronavirus

House of Fraser Plymouth 2

Mike Ashley’s Frasers Group reported a slump in profits that it blamed on a prolonged period of Brexit uncertainty followed immediately by the coronavirus crisis.

The delayed preliminary results from Frasers Group, for the year ending April 26, 2020, showed reported profit before tax slumped 19.9% to £143.5m and underlying profits before tax slipped 18.1% to £117.4m.

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