Alpha bid failure

Monday 10 August 1998 18:02 EDT

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ALPHA AIRPORTS, the airport service group in which Harrods holds a 27.8 per cent stake, has admitted it has failed to attract a single credible offer for its retail division, which was put up for sale in February.

Alpha shares, which reached 122p early in June, fell a further 8p to 70p yesterday, knocking pounds 14m off its market value.

The retail division includes more than 80 duty-free and tax-paid outlets in airport terminals in the UK and overseas, and last year provided over half the group's revenues and 44 per cent of its profits.

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