date:May 12, 2014
lion.
Group profit before tax and exceptional items fell 16% to 60 million.
In the UK, where it operates the Budgens and Londis franchises, sales dropped by 3% to 1.5 billion in 2013. It said that the UK business 'pursued a growth strategy but this has not delivered profitable sales', noting that it is 'addressing the performance [of the UK operation] and implementing fundamental improvements to our brand disciplines and ways of working'.
The company announced a writedown of 131 million worth