Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

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  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

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In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

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We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Moss Bros Group (MOSB)

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Tuesday 14 January, 2014

Moss Bros Group

Trading Update

RNS Number : 5387X
Moss Bros Group PLC
14 January 2014
 



                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

For immediate release                                                                                14 January 2014

MOSS BROS GROUP PLC

Trading Update & Dividend Policy

Group to exceed market expectations

 

Moss Bros Group PLC ("the Group"), the UK's No.1 men's formalwear specialist, today issues the following trading update for the 24 week period from 28 July 2013 to 11 January 2014 and guidance on future dividend policy.

 

Trading Update

 

Trading accelerated over the Christmas period and as a consequence the Group expects to exceed market expectations for the 2013/14 financial year.

 

Highlights:

 

·      Like for like sales for the 5 weeks to 11 January 2014 were up 12.9% on the same period last year. 

 

·      Like for like sales for the 24 weeks to 11 January 2014 were up 7.3% on the same period last year.  

 

·      Like for like cash gross profit for the 24 weeks to 11 January 2014 was 5.6% ahead of last year.

 

·      The improved sales performance over Christmas and continued tight cost control has meant that profit expectations for the 2013/14 financial year will exceed market expectations.  Stock levels at the year end are expected to be in line with management estimates.

 

Dividend Policy

 

The Board has considered the appropriateness of the Group's balance sheet in light of the cash generative nature of the business and of the Group's anticipated net cash position at the year ending 25 January 2014 of approximately £28.0 million. Following this review, the Board is pleased to announce that the Company intends to pursue an accelerated dividend policy to reduce its net cash position to a year end position of c. £15.0million over the medium term. The Board feels £15.0 million is an appropriate level of net cash taking into account the working capital requirements of the Group.

Subject to any other strategic opportunities arising, therefore, the Board intends to announce with its full year results for the year ended 25 January 2014 a recommended final dividend of 4.7 pence per share, being a total dividend of 5.0 pence per share for the year. This compares with 0.9 pence per share for the year ended 26 January 2013. The Board expects to increase this dividend payout progressively thereafter.

Dividend payments in future periods will be split approximately one-thirds, two-thirds between interim and final dividends for any financial year.

Whilst the dividend for the year ended 25 January 2014 will be partly uncovered by earnings, given the strength of the Company's balance sheet and the cash generative nature of the business, the Board believes that this level of growing dividend payment is sustainable and leaves sufficient working capital flexibility going forwards.

 

Commenting on the outlook, Brian Brick, Chief Executive Officer, said:

"We are encouraged by trading over the key Christmas trading period.  The improved sales performance and continued strong cost management and rigorous clearance of stock, means that we will finish 2013/14 ahead of market expectations.

 

An ongoing focus on cash management has allowed us to announce an accelerated and progressive dividend policy.

 

I would like to thank all our staff for their continued hard work and commitment during this busy period.

 

We remain conscious of the competitive trading environment but continue to implement our strategic plan to grow the business."

 

 The Group will announce its Preliminary Results on 26 March 2014.

 

For further information please contact:

Moss Bros Group Plc:                                                          0207 447 7251

Brian Brick, Chief Executive Officer

Robin Piggott, Group Finance Director

Buchanan:                                                                             0207 466 5000

Charles Ryland/Sophie McNulty/Gabriella Clinkard

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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