Prudent shoppers help Matalan buck the trend with soaring pre-tax profit

DISCOUNT retailer Matalan has managed to nearly double its pre-tax profits, despite the slowdown in consumer spending.

The company, which has stores in Slateford Road and Seafield Road in Edinburgh, is thought to have benefited from prudent consumers turning to it in the current economic climate

The company is expected to file accounts this week showing that pre-tax profits increased to £53.2 million in the year to March 2008, up from £28.1m a year earlier.