John Lewis profits fall by more than half

Profits at the John Lewis Partnership have more than halved after it was hit by re-organisation costs and the impact of the weaker pound following the Brexit vote.

It said profits in the six months to 29 July 2017 fell 53.3% to £26.6m.

John Lewis said the fall in the pound had pushed up its costs, hitting profit margins.

It added political uncertainty had hit customer demand.

John Lewis also suffered a one-off £56.4m charge, mainly for restructuring and redundancy costs.

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John Porter

John has been with Wrigley Claydon for over 20 years, becoming a partner in 1995. Specialising in Employment Law, John helps clients with matters including the preparation of recruitment policies and employment contracts as well as advocating in employment tribunals in cases of unfair dismissal or discrimination. He also has considerable experience of dealing with landlord and tenant disputes and matters relating to business and company sales, commercial investment property transactions and lettings as well as residential estate and offshore property developments. “I know I’ve done a good job when the business doesn’t need me!” John is never happier than when spending time with his wife and 2 children, Lucy and Alex. John is Chair of Respect Our Community Awards (ROCA) and a board member of First Choice Homes Oldham. In his spare time, John is likely to be found either reading, cooking or walking Donnie the Golden Retriever.