Argos to demerge from GUS

GUS offset a 9% fall in annual profits today by revealing the separation of its retail business Argos from credit-checking arm Experian would take place in October.

The group expects to raise about £800m (€1.2bn) through the issue of shares in Experian following the demerger, which will see Experian and the Argos Retail Group (ARG) separately listed in London.