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Retailer's Mobile Commerce Increases 45%

Home Retail Group posted an underwhelming first half but reiterated its full year guidance with hopes that Christmas sales will pick up. The UK general merchandise and home improvement retailer said first half profits before tax fell 5 per cent to £13.5m, or 1.2p per share. Adjusted pre-tax profits, its preferred measure, missed estimates at £30.9m, versus forecasts at £34m. The weak results were trailed in an update last month when the company noted"inconsistent" buying trends in the UK.

Read the whole story at Financial Times »

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