Somerfield to float by 1998

Article Abstract:

Somerfield of the UK, a supermarket group, is preparing for a stock market flotation in 1998, despite flat pre-tax profits due to competition in the grocery market. The company's debts total 500 million pounds sterling, of which 150 million pounds sterling must be paid back by 1998. A change of onwership is likely before then however.

Somerfield

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Morrison fears for new stores

Article Abstract:

Wm Morrison of the UK, a supermarket chain, has reported a rise in first half pre tax profit of 7.8% to 51.1 million pounds sterling, on turnover up 16% to 999.7 million pounds sterling. It plans to open nine of its planned new outlets for this year, although new store openings are being limited due to stricter planning regulations.

William Morrison Supermarkets PLC

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Restructuring costs hit Argyll results

Article Abstract:

Argyll of the UK, owner of Safeway and Presto, has reported pre tax profits down to 175.6 million pounds sterling in the year to April 01, due to restructuring costs of 195 millio pounds sterling, on sales up 4% to 56.2 billion pounds sterling. The restructuring programme aims to increase sales at its Safeway outlets.

Argyll Group PLC

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