Sir Philip Green's retail empire reports 42% drop in profits

Sir Philip Green's retail empire has reported a 42% drop in profits for its last financial year, before pressure on high street retailers gathered momentum.Taveta Investments, home to the Arcadia group of brands including Topshop, Dorothy Perkins, and Burton, said it made operating profits before goodwill, amortisation and exceptional items of £124.1m in the year to 26 August 2017.The chain's collapse a year later, amid stinging criticism from MPs, prompted Sir Philip to contribute £