Voda’s India fight

THE Duke of Westminster, who coowns property empire Grosvenor Estates, didn’t pay himself a dividend last year.

Gerald Grosvenor, the 6th Duke of Westminster, paid himself an £11.6m dividend in 2010, but did not take anything out of the business in 2011, according to company accounts.

The privately-owned property firm, which owns large tracts of Mayfair and Belgravia, saw revenue profit rise 26pc to £80.8m on higher rents and sales. However, its wider pre-tax profit slipped 20.2pc to £315m.

The Duke of Westminster is Britain’s fourth richest man, with an estimated fortune of £7bn. SMALL retailers lobby group the Retail Motor Industry Federation has asked competition body the Office of Fair Trading to investigate the grip supermarkets have on the industry.

Since the 1980s supermarkets have grown from nothing to account for 39pc of all petrol and diesel sales last year, according to petrol analysts Experian Catalist. How have they grown so fast? UK supermarkets like Sainsbury’s and Tesco buy fuel from suppliers more cheaply, sell greater quantities to motorists, and work off lower operating costs. A classic economy of scale operation.

Smaller retailers argue supermarkets are driving them out of business and then slowly pushing the price up. What’s the difference in price? Yesterday, the average UK price of petrol was £1.42.5, while diesel was £1.47.9, said Experian Catalist.

While at supermarkets the average price of petrol was £1.40.3, while diesel was £1.46.5. A small retailer makes around 4p profit per litre, while a supermarket makes between 2p to 3p but sells much greater volumes. Do we get a good deal? Supermarkets have led to keener prices. And while forecourts have closed, experts argue the 8,500 sites we have now is a sensible number. Small retailers will have a tough task convincing the OFT of their case. VODAFONE is facing a war on two fronts in the Subcontinent, after launching legal action against the Indian government.

The mobile phone firm notified New Delhi that it would go to international arbitration over plans to impose retrospective tax bills on foreign companies involved in mergers.

Vodafone took over the Indian mobile unit of Hong Kong’s Hutchison Whampoa in 2007 and would face a hefty charge under the legislation.

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