Back to the glory days at Arcadia

RETAIL tycoon Philip Green is expected to unveil an impressive turnaround at his Top-Shop-to-Dorothy-Perkins group Arcadia when he publishes full-year results on Thursday.

The much-improved business is spewing out cash, helping billionaire Green repay around £500m of the £808m bank loan he took on to buy the business last year.

As well as increasing sales, Green has also been able to repay the majority of the debt to HBOS subsidiary Bank of Scotland by mortgaging Top Shop's flagship store in London's Oxford Street, raising around £200m.

Green, who paid himself £160m in dividends last year, will also unveil results for Bhs, which he owns.

Trading is thought to have been strong despite the heatwave, with profits at his combined retail empire expected to top £200m.

Green, who jets between London and his home in Monaco, would not be drawn at the weekend. 'Without being difficult, you'll have to wait until Thursday,' he said.