Britain's Body Shop International has revealed a steep drop in underlying annual profits and said that a restructuring, first announced in January, had included 300 jobs cuts.

The company, the brainchild of "green" campaigner Ms Anita Roddick, is undergoing a major shake-up to try to revive flagging profits and sales in Britain and overseas.

Chief executive Mr Patrick Gournay, brought in almost a year ago to try to revitalise the company, said it would take time to turn the business around.

Pre-tax profits from the environmentally friendly cosmetics retailer fell to £24.5 million sterling (€37.2 million) in the year to February 27th last, down from £38 million. Profits were just £3.4 million, after including a £21.1 million restructuring charge. Worldwide sales rose 3 per cent to £605.8 million (€919.5 million) from £587 million, but on a comparable basis they were 2 per cent lower.