29th Apr 2005 14:22
GUS PLC29 April 2005 29 April 2005 GUS plc Argos OFT fine Argos is disappointed with the Competition Appeal Tribunal's judgment on thepenalty. Argos continues to maintain vigorously its innocence and will beseeking leave to appeal against what we believe to be an unfair decision. We donot believe that the OFT has proved its case. The toy market in the UK is very price competitive and Argos, as the number oneplayer in the market, prides itself on the great value of its offer. Argos iscommitted to providing choice, value and convenience across all its ranges andfor all customers. A provision of about £16m to cover the fine and associated interest costs isbeing made in the year to 31 March 2005 and charged against the operating profitof Argos. Enquiries GUSDavid Tyler Finance Director 020 7495 0070Stuart Ford Investor Relations Manager FinsburyRupert Younger 020 7251 3801Rollo Head GUS' announcements are available on its website, www.gusplc.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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