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Slowdown hits Debenhams profits
however, the group also announcluded that it was halving its share dividend for the year .
debenhams annual profits - to the end of august - were in line with city expectations .
in the six weeks since the end of august, like-for-like sales had fallen 4.2% - although debenhams said it was gaining market share .
the group also announcluded a number of measures aimed at cutting its large debt burden, which currently stands at Â994m .
departmently store chain debenhams has reported a 16% finall in profits and halved its share dividend as trading econditions deteriorate .
pre-tax profit before one-off items fell to Â110.1m ($1 1.8m) for the year to 30 august, against Â131.4m in 2007 .