£1.4bn Group trading profit, in line with expectations
UK like-for-like sales volumes up for first time in over four years, driven by better availability, service and pricing; like-for-like sales performance improved to (1.0)% in Q4
Significant reduction in UK trading profit, as previously announced
Tough trading conditions overseas, especially in Korea; disappointing performance in Europe
Transformation programme outlined in January progressing well; portfolio review ongoing
£(7.0)bn one-off charges, predominantly non-cash; includes £(4.7)bn fixed asset impairment, reflecting challenging industry conditions and profit decline
Pension deficit funding plan agreed with Trustee, comprising cash contributions of £270m per annum
No final dividend, as previously announced
Enhanced disclosure, including property valuation/ownership and commercial income
Reiterating commitment to reinvest any savings or outperformance into further improvements for customers
