Iceland with little growth

All,

According to Kantar’s release today, Iceland grew with only 0.6% p.a. over the last quarter.

In light of the amount of Capex the company has spent to roll out further stores and the additional open that goes with those stores (and a distribution centre) that is of course not a satisfactory number.

We are reviewing our position in the name and will be publishing an updated analysis in due course.

Wolfgang