Kwik Save

In yesterday's Business Post, interim profits at Kwik Save, the British discount food retailer 29 per cent owned by Dairy Farm International Holdings, were incorrectly reported. In the 28 weeks to March 15, the group revealed that pre-tax profits before exceptionals were up 1.4 per cent to GBP44.8 million (about HK$567.16 million). Underlying gross margins were up by 0.9 per cent. Current trading for the first seven weeks into the second half of the company's financial year showed like-for-like sales in continuing stores down 6 per cent.