Lets take the Harrods own brand retailing part first (The £1,040 turnover). Clearly that is not value added – it’s turnover.
So go to the profit and loss account for the operating profit – its £257m – that is value added
— Chris Giles (@ChrisGiles_) December 17, 2020
You’re claiming, or getting close to claiming, that Harrods – a retailer – is making a 25% net margin.
What is the thing that we cannot see in those accounts? Any payment for the land and or building from which the retailing is done. And a store in central London does have the odd cost attached to it.
The base point may well still be true – that Harrods is a larger part of the UK economy than fishing. But I’d suggest that this dive into the accounts doesn’t show it.