BILLIONAIRE retailer Philip Green marked his two-year anniversary in charge of high street giant Bhs by reporting the group's highest profits.

Mr Green said there was now a "very solid platform" for the business after operating profits soared 202 per cent to £100.2m in the year to March 30.

But he confirmed the chain's chief executive Terry Green would be leaving to pursue other interests in the retail sector.

He revealed Terry (no relation to Philip) wanted to buy Bhs last November but that he had decided to remain in charge of the 74 year-old group.

Philip Green, the 13th richest man in Britain, bought Bhs from Storehouse two years ago for a fifth of its estimated £1bn market value.

He and Terry, the former chief executive of Debenhams, have led a turnaround after refreshing the stores, saving cash and finding new suppliers.

Sales in the recent financial year rose seven per cent to £851.3m, as like-for-like growth, which excludes income from new stores, hit 5.4 per cent.

Mr Green said Bhs, which operates 160 stores across the UK, had taken market share from all of its rivals during the year.