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Revenue for the primary half of the 12 months fell by two thirds to €550 million (£480 million), principally attributable to enterprise items offered off final 12 months as a part of a serious turnaround plan. Della Valle, who took over as interim boss late final 12 months earlier than being appointed on a everlasting foundation, mentioned that plan was “progressing… though far more must be achieved”. Income was down barely, however forward of analysts’ expectations, at €21.9 billion. Within the UK, income was flat at €3.4 billion, although service income was up.
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