Mr. Tony Keohane:

The principle of below-cost selling does not make sense in the longer term, although we respond to tactical promotions in the market from time to time. That applies to alcohol, and we do not sell it, in principle, below cost. We respond, particularly at seasonal times, and some years ago we acted to prevent people from going north to buy alcohol and groceries. We also respond to market forces at a particular time. There is no way it happens otherwise.

There is the question of minimum pricing.

All I would say is we are responsible retailers, the question of minimum pricing is a matter for the Government. If it decides, that is a decision for the Government.