GUS operates direct catalogues in Holland, Austria, Sweden and Switzerland. Sales increased from £356m to £374m, with trading profit unchanged at £29.3m.
Wehkamp, the market leader in Holland, continued to show good progress with further increases in its market share. Halens, our Swedish operation, continued its profitable expansion into other Scandinavian and Baltic countries.
Profitability in Austria was again adversely affected by competitive pressures. Merchandise and marketing systems are now being integrated with the Dutch business. Cost savings and margin benefits are already being achieved and will increase over the next year.
Our European companies are increasingly combining merchandise purchasing with the UK business to obtain buying synergies.
[BACK][INDEX]
[NEXT]