Argos owner sees profits rise as turnaround push shows promise
LONDON, April 30
LONDON, April 30 (Reuters) - Home Retail, Britain's biggest household goods retailer, posted a 27 percent rise in full-year profit as its digital push at Argos and revamps at Homebase start to bear fruit.
The company said on Wednesday underlying pretax profit for the year to March 1 rose to 115.4 million pounds ($194.40 million), slightly ahead of analyst forecasts of 112 million pounds, on total sales up 3 percent to 5.7 billion pounds.
Sales at Argos stores open over a year rose 3.3 percent, led by strong demand for TVs, games consoles and tablets, and grew 5.9 percent at home improvement chain Homebase.