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UK DIY News

The week ahead - Home Retail Group

Home Retail Group, owner of Argos and Homebase, will also announce full-year results on Wednesday. There was little cheer to be found in March’s fourth-quarter update. Management guided full year pre-tax profit expectations down, noting ‘there were clear signs of further pressures on consumer spending, with recent trading conditions, particularly at Argos, proving to be more difficult and volatile than anticipated’. As for the coming results, sales of £5.85 billion are forecast (down 2.73% year-on-year), with a pre-tax profit of £251 million expected (down 14.2% year-on-year). Market opinion currently denotes a sell.

Source : Keith Bowman - Hargreaves Lansdown

15 April 2011
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Max Crosby Browne - CEO, Home Decor
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