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Home Retail Group reduces costs by £39m

25 October 2010
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Home Retail Group reduces costs by £39mImprovements to operating and distribution channels led to a £39 million reduction in operating and distribution costs for Home Retail Group to £947 million.

The company revealed it introduced measures across its operations to cut expenditure during the first half of 2010 by four per cent.

Latest figures from the company, which owns the Homebase and Argos store chains, show that trials of extended delivery times for larger items have improved convenience for customers.

However, the firm saw a three per cent year-on-year fall in total group sales over the six months in question to £2.72 billion, while benchmark operating profit declined by 23 per cent to £93 million.

Home Retail Group chief executive Terry Duddy stated: "We are about to enter our busiest trading period, and whilst we are planning cautiously, we do so from a position of operational and financial strength."

The company describes itself as the largest home and general merchandise retailer in the UK, with stores across the UK and Ireland.ADNFCR-3058-ID-800155482-ADNFCR
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