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Sarrica's Market will be profitable early in the first year, with net profit rising over the next two years.
The parcels business continued to grow, with profit rising 8.2% to $314m.
Full year results were in line with our expectations, with pretax profit rising by 32%too £154m.
Overall, group revenue from continuing operations rose by £504m to £1.4bn last year, with operating profit rising £22.9m to £92.8m.
Its 2016 results showed operating profit rising from £1.9bn to £2.2bn but after financing costs profit before tax fell from £1.7bn to £669m.
Audrey Baxter was speaking as the company announced a bumper set of financial results, with underlying profit rising sharply and revenue topping £300 million for the first time.
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Statutory profit rose 20 per cent to £25.4 million, while adjusted profit rose 30 per cent to £34.8 million.
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