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Maintenance building products supplier Epwin pulled its dividend after reporting a fall in profit, in line with its expectations, amid as demand across its core businesses softened in the second half of the year due to uncertainty around the timing of Brexit and the General Election.
The company said it would be imprudent to recommend the payment of a final dividend for the year ended 31 December 2019.
For the year ended 31 December 2019, pre-tax profit fell to £12.4m from £13.3m on-year and revenue was flat £282.1m.
'Up to the middle of March, trading was slightly ahead of the board's expectations despite the poor weather experienced in the second half of February,' the company said.
'In anticipation of significantly reduced demand levels and in the interest of customer and employee safety, we took the decision on 25 March 2020 to implement a controlled shutdown of Epwin's operating sites for a temporary period,' the company said.
At 9:48am: (LON:EPWN) Epwin Group Plc share price was -0.1p at 68.4p