Group trading profit for the full year was down 6% to £3.3bn while profits in the UK business fell 3.6% to £2.1bn. Group sales, including VAT. UK like-for-like sales were down 3% in the fourth quarter.
Clarke said: "Our results today reflect the challenges we face in a trading environment which is changing more rapidly than ever before. We are determined to lead the industry in this period of change."
He added: "During the year, we have maintained our focus on cash and capital discipline. We have significantly reduced our new investment in Europe, focusing the majority of our overseas capital on targeted, high-returning investments in Korea, Malaysia and Thailand. We have completed our exit from the U.S. and established partnerships with CRE in China and Tata in India which provide continued access to two of the world's most exciting markets, consistent with a sustainable level of future investment."
