The owner of retail chains Argos and Homebase said today it had spurned expressions of interest in both of its operating divisions.

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 FTSE 100 Index ended a choppy week in positive mood today as it broke through the 5200 barrier buoyed by a strong session on Wall Street and impressive gains by drugs giant GlaxoSmithKline.

GUS increased the focus of its retail arm on Argos and Homebase today by agreeing to sell a business it has owned for more than 40 years.