Mixed results for Argos owner


Mixed results for Argos owner
Home Retail Group, the parent company of both Argos and Homebase, has announced an uneven set of results for the half-year, following last month's demerger from GUS.

High street and catalogue retailer Argos experienced a 22 per cent rise in profits to £72.4 million, but earnings at DIY outlet Homebase were down by a fifth to £40.8 million.

The group's overall results revealed an eight per cent increase in sales to £2.82 billion, with profits up two per cent at £106.9 million.

Chief executive officer Terry Duddy today insisted that the group had delivered a "good performance" against a backdrop of "challenging conditions".

"While we remain cautious on the short-term outlook for UK consumer spending, we will continue to drive our businesses forward for long-term growth. We have set out a clear strategy to achieve this, including leveraging the strength and breadth of our product offering and our unique multi-channel skills," he said.

Home Retail Group chairman Oliver Stocken added: "We are delighted that our successful demerger has created the opportunity for investors to invest directly in what we believe is an extremely well-positioned and focused business."

As part of the GUS demerger, credit monitoring service Experian became a separate listing, with the firm today announcing its sales have gone up 17 per cent and profits rising 16 per cent to $388 million (£204 million) for the half-year.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure