Interim Results 2015/16

7 October 2015

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Colleague interview with Dave Lewis and Alan Stewart video

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Highlights

  • UK 1H like-for-like sales performance of (1.1)%, including further improvement in 2Q
  • International 1H like-for-like sales growth of +1.0%; both Europe and Asia positive in 2Q
  • UK focus on service, availability and price maintaining momentum in challenging market - Transactions up +1.5%; volumes up +1.4%
  • £354m Group operating profit – investing for customers and rebuilding profitability in UK
  • On track to deliver £400m annual cost savings from Group restructuring investment
  • Significant progress made on balance sheet priority with sale of Homeplus in Korea and confirmation of move to defined contribution pension scheme in UK
  • Portfolio reshaping concluded; dunnhumby retained; firm focus on generating cash from retained assets

Materials