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Deloitte: Interim Results 2014/2015(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 24 October 2014 Release date- 23102014 - eloitte: Interim Results 2014/2015. UK like-for-like sales down (4.6)%, impacted by strong competition across the grocery market, headwinds from price cuts and fewer untargeted promotions GBP0.9bn Group trading profit - year-on-year decline reflects challenges of UK business Total UK online sales up 11%; like-for-like sales growth of +0.8% in UK convenience stores Deloitte investigation into overstatement of expected half year profit concluded; impact confirmed as GBP(263)m, of which GBP(118)m relates to first half trading profit, with the balance treated as a one-off item (being c.GBP(70)m relating to 13/14 and c.GBP(75)m to pre-13/14) Interim dividend 1.16p*** as previously announced; full-year capex reduction to GBP2.1bn New Executive team in place and reviewing all strategic options to create greater shareholder value Group sales (inc. VAT) exclude the accounting impact of IFRIC 13 (Customer Loyalty Programmes). ** Underlying diluted EPS growth calculated on a constant tax rate basis; (48.2)% at actual tax rates. *** The interim dividend will be paid on 19 December 2014 to shareholders on the Register of Members at the close of business on 31 October 2014. (c) 2014 Electronic News Publishing - |