The variety retailer said it anticipates that supply will be phased in from August for a minimum of two years. On a full-year basis, the retailer forecasts that this will increase EUK's turnover by about£200 million.
Woolworths chief executive Trevor Bish-Jones said: 'It marks another important step in the development of EUK. Over the past 18 months, through a series of contract wins and acquisitions, we have significantly improved the underlying quality of the EUK business. We now have a fully diversified base of quality retailers as our customers.'
Seymour Pierce analyst Richard Ratner said: 'After set-up costs, it is unlikely to make a contribution in this financial year. For next year we add£4 million to profits to give£34 million. [Woolworths] is building up a good distribution business.'
No comments yet