SFI, whose portfolio includes Slug & Lettuce, Litten Tree and Bar Med, has indicated "green shoots" have arrived, although it is still early days. The company cut its pre-tax losses from £110m to £26.4m in the year to May 29 on sales down from £153.2m to £128.7m. The sales decline reflects a reduction in the estate from 183 to 157 pubs. SFI almost broke even at the operating level with losses of just £61,000, against £85m last time. Financial Times (Money & Business) 02/10/05 page 4

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