Deficit down

Home Depot has revised its profit forecast for the current 2007 financial year. The expectation now is for earnings per share to go down by 7 - 9 per cent, not as previously announced by 12 - 15 per cent. An announcement to this effect was made by the world’s largest home improvement retailer on Monday, after agreement had been reached on the buy-back of 289.3 mio shares at a cost of US $ 10.7 bn.