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Home Retail's Argos sales improve at year-end

Thu, 10th Mar 2016 07:46

(ShareCast News) - Home Retail Group reported an improvement in sales at its Argos stores in the final eight-week trading period for the financial year ended 27 February.The FTSE 250 company, which recently sold Homebase and is currently the subject of a bidding war between South African retailer Steinhoff International and UK supermarket chain Sainsbury's, said like-for-like sales at Argos fell 1.1% on the year.This compared to a 2% decline in the second half and a 2.6% drop for the full year. Total Argos sales were up 1.9% compared with a 1.1% rise in the second half.At Homebase - the DIY unit recently sold to Australia's Westfarmers - LFL sales rose 3.3% in the period compared with a 4.5% increase in the second half and 5.2% for the year.Chief executive John Walden said: "I am pleased with the continued improvement in Argos' sales performance in the period, together with the continued progress in the Argos Transformation Plan to become a digital retail leader."In October we introduced FastTrack - market-leading propositions for same-day home delivery and store collection. Since its introduction, customer awareness of FastTrack has continued to grow and its operations are improving, with both on-time delivery rates and customer satisfaction now at leading levels."The company expects benchmark pre-tax profit for the financial year ended 27 February to be in line with current market consensus of £93m. It also said the group's year-end cash balance will be significantly stronger than previously anticipated at around £625m.
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21 Jun 2024 10:06

Home REIT sells 133 properties at auction for GBP11.4 million

(Alliance News) - Home REIT PLC on Friday announced the sale of properties as part of its ongoing efforts to reduce company debt.

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17 Jun 2024 13:35

Home REIT debt refinancing talks collapse

(Sharecast News) - Talks to renegotiate Home REIT's £130m debt pile have collapsed, meaning the struggling social housing fund will have to sell more properties to pay back lenders.

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17 Jun 2024 11:23

Home REIT board to consider "more extensive realisation strategy"

(Alliance News) - Home REIT PLC on Monday said it will seek alternative funding sources after it failed to secure a refinancing of an existing loan.

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4 Jun 2024 14:32

IN BRIEF: Home REIT notes tenant of properties enters administration

Home REIT PLC - London-based real estate company - Notes that Noble Tree Foundation Ltd, a tenant of 143 properties in its portfolio, enters into administration. Noble Tree, a "non-performing tenant," represents about 7% of rent demanded in April. Home REIT is working with AEW with the appointed administrator CBW Recovery LLP to arrange the surrender of Noble Tree's leases, and a handover of its tenancies. Underlying residents of the properties will not be impacted the by the surrender of the leases, Home REIT notes.

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4 Jun 2024 12:31

Home Reit tenant Noble Tree enters administration

(Sharecast News) - Troubled real estate investment trust Home Reit said on Tuesday that homelessness charity Noble Tree Foundation - a tenant of 143 properties in its portfolio - has entered into administration.

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29 May 2024 19:41

EARNINGS AND TRADING: First Tin "consolidates" holdings in Taronga

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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10 May 2024 14:19

Home REIT sells 5% of property portfolio amid investor fraud case

(Alliance News) - Home REIT PLC on Friday announced that following a public auction it had exchanged on the sale of 76 properties in its portfolio.

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8 May 2024 21:42

TRADING UPDATES: Home REIT cuts borrowings, Genflow shares restored

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and Wednesday, and not separately reported by Alliance News:

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19 Apr 2024 08:17

Embattled Home REIT sells further 65 properties for GBP16 million

(Alliance News) - Home REIT PLC said it has sold a further 65 properties for GBP15.9 million.

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19 Apr 2024 07:05

Home REIT exchanges 65 properties at auction

(Sharecast News) - Home REIT announced the successful exchange of 65 properties on Friday, at a public auction held on 18 April.

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18 Apr 2024 11:56

Home REIT begins legal action against former investment fund manager

(Alliance News) - Home REIT PLC on Thursday said it plans to bring legal action against its former investment fund manager.

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28 Mar 2024 13:44

EARNINGS AND TRADING: Northamber loss widens; Ethernity contract boost

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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6 Mar 2024 21:57

Home REIT continues to aim for shares restoration as annual rent falls

(Alliance News) - Home REIT PLC on Tuesday said it received updated draft valuation reports which it needs as part of the process to restore its shares to trading, as it reported a contraction in valuation and annual contracted rent.

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22 Feb 2024 14:25

UK shareholder meetings calendar - next 7 days

Friday 23 February 
Blencowe Resources PLCAGM
Bluebird Merchant Ventures LtdAGM
Caledonian Trust PLCAGM
Chemring Group PLCAGM
Marble Point Loan Financing LtdEGM
Monday 26 February 
Oncimmune Holdings PLCAGM
Tuesday 27 February 
abrdn Diversified Income & Growth PLCAGM
Asian Energy Impact Trust PLCGM re annual accounts
Custodian Property Income REIT PLCGM re merger with abrdn Property Income Trust Ltd
JPMorgan Mid Cap Investment Trust PLCGM 2nd re merger with JPMorgan Mid Cap
LondonMetric Property PLCGM re merger with LXi REIT Plc
Victorian Plumbing Group PLCAGM
Vinanz LtdAGM
Wednesday 28 February 
abrdn Property Income Trust LtdGM re merger with Custodian Property Income REIT PLC
Beacon Rise Holdings PLCEGM re continued pursuit of an acquisition
Downing Strategic Micro-Cap Investment Trust PLCGM re managed wind-down
Image Scan Holdings PLCAGM
PPHE Hotel Group LtdEGM re waiver of mandatory offer provisions
Verditek PLCGM re disposal of solar business
Thursday 29 February 
Capital for Colleagues PLCAGM
Home REIT PLCAGM
IntegraFin Holdings PLCAGM
Intuitive Investments Group PLCAGM
Shanta Gold LtdGM re acquisition by ETC Holdings
Vast Resources PLCGM re capital reorganisation
Watkin Jones PLCAGM
Zytronic PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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15 Feb 2024 12:43

Home REIT sells further GBP5.6 million in properties at cut price

(Alliance News) - Home REIT PLC on Thursday said it sold a further 117 properties worth GBP5.6 million in gross proceeds, as it scrambled to reduce borrowings and raise working capital while under investigation by the UK Financial Conduct Authority.

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