By Marcus Leach
John Lewis Partnership has announced a 20 per cent increase in profits for 2010, but has warned that the coming year may not be as successful.
The company, which includes Waitrose supermarkets, posted a 20 per cent rise in pre-tax, pre-bonus profits to £367.9 million for the year to January 31, as sales soared 10.6 per cent to £8.21 billion.
Staff of the group have been rewarded with bonuses worth 18 per cent of their salaries. The employee-owned firm said a strong year for its department stores and Waitrose means its 76,500 staff will share a bonus pot of £194.5 million, up from last year's pool of £151 million.