Business Services Industry
U.K. Retailer GUS Enjoys Record Profits, Cash Bonanza.
Knight Ridder/Tribune Business News, May, 2004
Daily Mail, London Knight Ridder/Tribune Business News
May 26--GUS signalled a break-up is on the cards and promised to return UKpound 200 million cash to shareholders, after record annual profits.
The retailer, which owns Argos, Homebase and 66 percent of Burberry, is embarking on a strategic review to decide whether its Experian credit checking arm should be split off. Chief executive John Peace said GUS will "look at all the options over the course of two years."
Conglomerates are not in favour and analysts reckon GUS would be valued more highly if it sells off its remaining Burberry stake and floats Experian to focus on its UK retail operations.
It is pressing ahead with the float of up to 50 percent of its South African...
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