Hanson sells chain of duty-free shops
NZPA-Reuter London The British-based conglomerate Hanson Pic announced it was selling its Allders chain of duty-free shops and department stores to a team of managers for £224 million (SNZ627 million). Allders runs the dutyfree shops at London’s Heathrow and Gatwick airports and has interests in Europe, North and South America, and Australia. Hanson, one of Britain’s top 10 companies whose interests range from
bricks and' tobacco to bathroom fixtures and food, said it would retain a five per cent stake in Allders. It said the management team was led by Harvey Lipsmith, chief executive of the Allders division. It forecast the businesses would have a total turnover of £6OO million in the year ending September, while operating profit was budgeted at £24 million. In late afternoon trading in London, Hanson shares were almost unchanged at £1.835 each.
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Press, 19 April 1989, Page 41
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143Hanson sells chain of duty-free shops Press, 19 April 1989, Page 41
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