Somerfield sales rise sharply

Still no formal offer for the business but directors hope to bring a prompt conclusion

Group sales were up by 17% compared with the same period last year driven by store acquisitions.
The company said “On 31 March 2005, Somerfield announced that it had decided to enter into discussions with potential offerors with a view to establishing whether proposals which had been put forward could be developed on a basis which would result in a formal offer at a price which could be recommended by the Board of Somerfield.

“Since then, there have been extensive discussions with a number of parties. Thus far, there has been no formal offer and, accordingly, the Board is now seeking to bring the process to a prompt conclusion”.

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