 Argos could face a challenge from Tesco |
Home Retail Group, the owner of Argos and Homebase, has issued a cautious short-term outlook in its first results since its demerger from GUS in October. Total sales at Home Retail were up 8% to �2.82bn ($5.35bn) in the half-year to 30 September, despite "challenging conditions" in some of its markets.
Argos saw like-for-like sales - which ignore the impact of new stores - rise 4.6%, with profits up 22% to �72.4m.
But Homebase saw sales fall 2.7% and profit fall from �52.4m to �40.8m.
Overall operating profits at Home Retail Group were up 2% to �106.9m.
As Christmas approaches Argos - which makes the majority of its sales via catalogues and High Street sales and collection points - now faces competition from Tesco, which recently launched its Tesco Direct catalogue.
The Tesco catalogue offers 8,000 non-food items. However, Argos said it would take "several years" if Tesco was hoping to copy its methods successfully.
Experian
GUS was split into two in October, listing Home Retail Group and its credit information business Experian separately.
In Experian's first set of results since the split it announced a 16% rise in first-half profit.
Earnings from continuing businesses at Experian before interest and tax was $388m (�204m) for the half year to September.
The company said it planned to continue its strategy of expanding through acquisitions.
"Organic growth is the most important type of growth at Experian but we also plan to accelerate this by making complementary acquisitions that fit our overall plan," said chief executive Don Robert.
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