Debenham’s private-equity backers CVC Capital, Texas Pacific and Merrill Lynch PE are reportedly set to make a £400m profit on the £600m they put up to take the chain off the London Stock Exchange in December 2003 in a £1.7 billion deal. Sales at Debenhams’ 116 stores rose £100m to £1,903m in 2004, while operating profits jumped £10m to £185m. Rob Templeman, the firm’s chief executive, has not ruled out a return to the stock market later this year, and has also outlined plans to more than double the number of stores to 240.
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