Blockbuster UK increases profit

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The Independent Online

Blockbuster UK reported an increase in annual profits but admitted its US parent company's decision to apply for bankruptcy protection last month could lead to a change in ownership.

Trading at its UK DVD rental chain in 2010 had been "satisfactory, taking into account the effects of the World Cup and some periods of unseasonably warm and dry weather in the second quarter", said accounts filed at Companies House.

For the year to 3 January, Blockbuster UK saw its pre-tax profits increase by 52 per cent to £4.56m, but turnover fell by 10 per cent to £262.8m.

The company stressed it was not part of the Chapter 11 bankruptcy-protection process of of its US parent, Blockbuster Inc.

But it admitted that if the process did not come to the expected satisfactory resolution, it could be "subject to changes in ownership or financing".