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Homebase 'will see profits halved'

Published: 29 April 2013
Homebase's performance has taken a severe blow over the past year, results released later this week are expected to show.
According to The Express, the prolonged winter weather and squeeze on household incomes have taken a toll on profits at the retailer. When parent Home Retail Group ¬releases its full-year results on Wednesday, it is predicted that earnings at Homebase will have slumped by half, down from £23m to £12m.

The Express says HRG, which also owns Argos, will see pre-tax profit down from £102m to £90m.

Homebase has been continuing with its programme of store closures as it concentrates on developing its multi-channel offer.

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