Background. In November, the Group’s Interims presented a mixed picture, with continued good progress with “self help” initiatives but with the benefits of these being substantially offset by increasing trading headwinds. Despite underlying sales falling 7% in Chain and 6.4% in TT, underlying operating margins improved from 8.3% to 9.3% and operating profits grew 5% to £7.9m. (+3% constant FX).
