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Ted Baker profits down amid tough trading

Troubled fashion chain Ted Baker has seen a 26% fall in annual profits amid “very difficult trading conditions”.

The results come less than three weeks after the retailer’s boss, Ray Kelvin, resigned in the wake of allegations of misconduct, including “forced hugging”.

The figures were in line with a profit warning issued last month that sent shares tumbling.

Pre-tax profit for the year to 26 January was £50.9m, down from £68.8m a year earlier.

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