1 Which activities are the main contributors to the profit of the Home Retail Group?

We are the UK’s leading home and general merchandise retailer.
Argos and Homebase are two of the UK’s leading retail brands, with large customer bases across the UK and Ireland. Between them, our retail brands have more than 60 years of market heritage and consumer awareness. Argos was founded in 1973 and Homebase in 1981. They have been shaping modern retailing ever since.

The change in both the year-end and the Group’s capital structure on demerger in 2006 resulted in statutory reported results that are non-comparable. To assist with analysis and comparison, certain pro forma information has therefore been provided in respect of the comparative periods to eliminate the distortions of these two impacts on the performance of the Group (p. 119)

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m 4,281.9 1,513.2 102.3 Income statement Argos Homebase Financial services 52-week period to 28 Feb 2009 52-week period to 1 Mar 2008 52-week pro forma to 3 Mar 2007 52-week pro forma to 4 Mar 2006 m m m 4,320.9 1,568.5 4,164.0 1,594.2 3,858.8 1,559.0 95.4 93.2 92.5 Sales 5,897.4 5,984.8 5,851.4 5,510.3 Argos 303.6 376.2 325.0 297.0 Homebase 14.9 45.1 53.4 51.4 Financial services 6.1 5.5 5.0 6.1 Central activities (24.2) (28.8) (24.0) (22.7) Benchmark operating profit 300.4 398.0 359.4 331.8 Net financing income 29.7 33.3 16.6 9.5 Share of post-tax (loss)/profit of joint ventures and associates (2.4) 1.6 0.7 (4.2) Benchmark PBT 327.7 432.9 376.7 337.1