Iceland annual earnings slide on ‘disappointing’ first-half performance - News Summed Up

Iceland annual earnings slide on ‘disappointing’ first-half performance


Iceland has reported a slump in full-year earnings after it was weighed down by a “disappointing” performance in the first half of the year. Iceland has reported a slump in full-year earnings after it was weighed down by a “disappointing” performance in the first half of the year. The frozen food retailer saw earnings before tax slip 8.7% to £140.1 million in the year to March 29. Earnings were hit by increased staffing costs after the rise in the national living wage, increased distribution costs and its sales performance during the first six months of the year, it said. Iceland has also invested into growing its online offering, launching its new Iceland Online website in March to drive growth for home delivery sales.


Source: Irish Independent June 13, 2019 08:48 UTC



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