5 billion British Pounds, GUS
Home Shopping's parent company, The Great Universal Stores plc Group (London: GUS
attributed the hike to an expanded product range, seven new stores and lower prices.
In April GUS
said conditions for its agency home shopping business had remained difficult in the first six months of the year, with sales eight per cent lower than the second half of the previous year.
also said yesterday that profits during the first half of the year had soared by a fifth, at the top end of City expectations.
Lord Wolfson, Chairman of GUS
, said, "Metromail is an important further step in our strategy to develop a comprehensive information services business, which begin in 1996 with the acquisition of Experian.
said yesterday that sales are continuing to climb at Argos despite fears of slower consumer spending.
had originally timetabled Burberry to float in June.
said the catalogue stores chain Argos and Burberry brand continue to show strong sales growth for the parent company but there has been a slowdown at the group's US information arm Experian.
Prices of similar items can be as much as 50 per cent more expensive in GUS
catalogues, according to Argos.
Some of the main growth, GUS
said, was through demand for Burberry-branded accessories, which now represent 28 per cent of all retail sales, and a strong performance in the wholesale division.
It was immediately rejected with the Argos top brass accusing GUS
of trying to buy the business on the cheap.
services is a productivity enhancement tool and requires insurance companies to change their underwriting process to realize its full benefits.