BTC Operating Costs
- H1 cost growth 11%
- Growth plans
- Pension charge
- Full year cost assumption c.6%
- Net Getting in Shape benefit in H2
- Dependant on Store Friendly Supply Chain
Notes
Operating cost growth was 11%. The elements driving this were described in May - the cost of our growth plans, a higher pension charge, underlying inflation and modest net benefits from Getting in Shape.
We expect costs for the full year to increase by around 6%. This is due to more significant net Getting in Shape benefits in the second half.
Delivery of the full year cost target will depend on achieving savings in store payroll made possible by the smooth running of the supply chain and new IT systems.
