HUNDREDS of staff at one of Hampshire's biggest retailers are today cook-a-hoop after their billionaire boss unveiled record operating profits of £111.6m.

Philip Green, owner of the 162-store Bhs chain, heaped praise on the workforce here and nationally.

He said the improved results were due "in large part to the continued loyalty, commitment and passion" shown by staff.

Bhs, with local outlets at Above Bar in Southampton, Fareham and Winchester, sells clothing, shoes and accessories as well as a variety of furnishings and appliances.

The figures come a day after Marks & Spencer - the troubled rival he attempted to buy for £9 billion - announced that half-year profits would be lower after another fall in like-for-like sales.

Mr Green responded to the collapse of his M&S bid in July by ensuring Bhs "trade their socks off".

He said operating profits at the 162-store Bhs chain rose 5.8 per cent to £111.6m in the year to March 27.

Total sales were up 0.9 per cent at £889.8m but flat on a like-for-like basis.

Since the end of August, sales have improved by 1.7 per cent on a year earlier with the like-for-like figure up 1.3 per cent.

The performance for the financial year means Mr Green will pick up the lion's share of a final dividend of £42.75m.

An interim dividend of £156.75m was paid to shareholders - some of them local staff - in November.

Mr Green claimed the retailer was winning its battle against struggling competitor M&S.

As previously reported by Business South, M&S, which employs just under 1,000 staff at WestQuay in Southampton, Hedge End, Fareham and Winchester, reported disappointing sales results on Tuesday.