Harvey Nichols sees profits soar

In a sign that the megawealthy keep on spending, Knightsbridge landmark Harvey Nichols has seen pre-tax profit before charitable donations soar38 per cent to nearly £16m.

Revenue rose by nearly £3.5m to £87.1m in the year to 2 April. Harvey Nichols has other stores across the country, but these are held in separate companies. The group is controlled by Asian tycoon Dickson Poon, who is also chairman at Harvey Nichols. The charitable donation was a £5m payment to St Hugh's college, Oxford University.