Parent Company Confirms Review that Could Spin off Experian
"May 27, 2004 — LONDON - John Peace, chief executive of GUS, has announced during a presentation of the retailer's preliminary results that the board has decided to undertake a two-year strategic review that could result in a demerger of Experian.
The review will consider "all strategic options", which could include keeping the group's current structure, including retail chains Homebase and Argos, or a demerger of Experian, which analysts have valued at between £3.5bn ($6.43 billion) and £4.5bn ($8.26 billion) as a standalone company.
In the 12 months to March 31 2004, GUS reported group sales up 6% to £7.5bn, with underlying profits up 29% to £827m. Experian's sales were up 14% to £1.29bn with profits up 20% to £282m.
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That they are allowed to personally profit from the damages they inflict on consumers with their false and incomplete credit reports is just beyond belief. Why don't more attorneys go for jury trials?
Posted by Christine at May 27, 2004 11:19 PM | TrackBack