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Profit, before the partnership bonus, tax and exceptional items, rose 21.2% to 370.4m. Overall sales rose 3.2%, with both John Lewis and Waitrose increasing their market share. How does the John Lewis Partnership work? Image copyright EPA Consists of an elected council, a board and a chairman First bonus paid in 1919 First cash bonus in 1970 No bonus paid in First World War, Second World War and early fifties Company says it allows them to have a longer term outlook as it doesn't have to answer to City shareholders Waitrose exports The John Lewis department stores, which say they are "never knowingly undersold" on price, saw sales growth in all major areas. New products such as the Dyson Supersonic hairdryer helped the electronics division, while fashion sales were helped by stocking the brands Finery and Hush, which were previously online only. The Waitrose supermarkets saw like-for-like sales - which strip out the impact of store openings and closures - fall 0.2%, although the company said trading improved in the second half of the year. It is changing its focus to investing in existing stores rather than opening new ones. Waitrose is also looking to export more. A deal with China's Alibaba Group allows it to sell products in the country for the first time, and an agreement with the online retailer British Corner Shop, which sells in more than 100 countries, allows it to export elsewhere. Analysis: Emma Simpson, business reporter Image copyright Newscast A lot of workers would be delighted with a 6% bonus, any bonus in fact but it's worth remembering that partners in John Lewis have been used to double digit payouts, including a stonking 18% in 2011. But the company is slashing this annual reward from a position of strength.
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