Hrg Defies Analysts' Predictions to Make Pounds 675m Profit

Birmingham Post › March 15, 2007

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Summary

The company that controls Argos and Homebase stores has beaten analysts' predictions of a slow start to the year, with a predicted pre-tax profit of pounds 675 million.

Home Retail Group (HRG), which was demerged from retail conglomerate Great Universal Stores (GUS) in October 2006, saw an increase in trade in the first months of 2007. Sales at its 680 Argos stores increased by 6.8 per cent, with Homebase sales rising by 13.3 per cent.

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Hrg Defies Analysts' Predictions to Make Pounds 675m Profit

Full-year profits before tax are expected to be around pounds 375 million...

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