Space NK blames shrinking profits on expansion

// Space NK profits have halved after it invested in new store openings and improving its website
// In the year to March 30, Space NK posted profits of £3m, compared with £6.3m a year earlier
// Sales increased 6% to £109m during the yearSpace NK has said its profits halved last year after it injected cash into new store openings as well as developing its website.
In the year to March 30, the cosmetics retailer posted profits of £3 million, compared with £6.3 milli