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Record New Star profits

New Star saw record profits in the first half of this year but chairman John Duffield warns that markets will be more challenging, at least in the short term.

Net UK retail sales leapt by 54 per cent to £1.1bn. Net revenues rose by 39 per cent to £86.5m from £62.3m in the same period last year and operating earnings increased by 58 per cent to £48.1m from £30.5m.

Duffield says: “We have had a record first half. We now face a somewhat more challenging environment. Subject to markets not deteriorating, we remain robust about our prospects for the full year and expect to continue to generate growth.”

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