22nd Oct 2018 10:58
LONDON (Alliance News) - Fabric trader Leeds Group PLC said Monday it will not pay a dividend due to its performance in the past year.
In its financial year to May 31, Leeds posted a GBP885,000 pretax profit, little more than half its GBP1.4 million profit the year before. This was attributed to losses on currency exchange, margin pressures, and increased competition.
As a result, no annual dividend has been declared.
At the company's annual general meeting, Leeds Group Executive Chairman Jan Holmstrom will announce that trading for the first three months of its current financial year have been "in line with the expectations of the board".
Leeds Group shares were untraded on Monday, having last closed at 32.00 pence.
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