By Bethany Wales Discount books and crafts supplier The Works is hoping to deliver more than £8m in profits next year, following a challenging 12 months in which it closed dozens of shops across the UK. The retailer, which now has 511 stores, is expected to report that its profits dropped by £3m during its latest financial year, with costs rocketing due to inflation and the increase in National Living and Minimum Wages. But bosses say they believe the business can grow its profits next year, following a change in strategy which focuses on cutting costs and improving its margins. Chief executiv…