Cyprus Ermes 2008 net profit up 7.4%

Cypriot retailing giant Ermes Department Stores (ERME.CY) posted a 7.4% increase in 2008 full-year net profit to EUR10.38 mln, the company said, as it opened new outlets across the island.
The group, which runs the Debenhams chain of stores in Cyprus and British high street brands like Next, Oasis and Peacocks, said total turnover rose 19% to EUR225.5 mln, making it by far the largest retail group in Cyprus.