Home Retail Group Result 30/10/15

Home Retail Group, owner of the Argos and Homebase brands, reported its half-yearly financial result indicating an increase in earnings per share of 13% to 3.4p (5.19¢). Benchmark profit increased 10% to £34.1 million ($52 million). The turnover was 2% lower at £2.63 billion ($4 billion). Argos reported weaker sales with 3.9% decline in volume coupled with a 0.4% gross margin, whereas Homebase improved 5.6%, with an improvement in operating profit to 4.2% despite a gross margin decline of 1.25%.