News Releases issued to the Stock Exchange
29 April 1999

Interim results for the six months to 28 February 1999

Results Summary Group Balance Sheet
Highlights Group Cash Flow Statement
Chairman's Statement Review Report (Auditors)
Operating and Financial Review Notes 1 - 5, Notes 6 - 10
Financial Review Further Information
Group Profit & Loss Account City Presentation

 
Results Summary (normalised)

 

 

1999

(m)

 

1998

(m)

Reported change

(%)

Constant currency change

(%)
 

   

Turnover

1,828

1,882

(3)

(1)

Trading Profit

- Spirits & Wine underlying +4%
- Retailing underlying (13)%

347

372

(7)

(5)

Profit before Tax

292

320

(9)

(7)

Earnings per share - normalised
                             - basic

20.4p

25.4p

21.3p

21.1p

(4)

+20

(2)

+22

Sir Christopher Hogg, Chairman, commented:

"We are maintaining the pressure to enhance operating standards and to develop our key brands. These policies are driving real progress in our mainstream operations and we are confident that they will continue to improve the underlying value of the business."

   
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