P504 Teletext 504 Oct28 21:51:01         —————————————————————————————  PROFITS WARNING AT WATSON Convenience store and food distribution group Watson & Philip has warned its profits will be hit by the cost of developing its WP Foodservice division. Because of a "timing delay" between start-up costs and signing new customers to the service, the figures will be at the lower end of forecasts. But W&P said it was confident that its strategies would pay off in the future. ——————————————————————————————————————— Financial headlines 500 City index 501 Download and Analyse Share Prices on Your PC See Pages 532 & 533 Next CompNews Shares Family Finance