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HOME RETAIL FORECAST HIGHER PROFITS

ABOVE: Home Retail CEO Terry Duddy
12th March 2010

By Daily Star Reporter

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HOUSEHOLD goods group Home Retail forecasted higher-than-expected profits for the second time in three months yesterday.


The announcement came despite lower fourth-quarter sales and lower margins at both its Argos and Homebase arms, mainly due to the snow.


Home Retail said it expected to make an underlying pre-tax profit of around £290million for the year to February 27, £5m ahead of analyst forecasts.


But CEO Terry Duddy said: “We continue to plan cautiously given the uncertain economic outlook.”

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