logo
Share SHARE
FONT-SIZE Plus   Neg

S & U Says FY Results Will Significantly Exceed Market Forecast - Quick Facts

S & U Plc (SUS.L) in its year end trading update said it is trading well and that results will significantly exceed market expectations.

The company stated that its Home Credit division has traded well over Christmas and January and continues to do so. Customer numbers continue to grow and as a result S & U opened two new branches at Swindon and in Glasgow.

S & U noted that although it continues to grow, its vigorous underwriting and collections performance has seen the treasury position continue to strengthen. Since the end of last year, borrowings have reduced by nearly 3 million pounds. Gearing has fallen to under 35% from 43% last year and 57% two years ago.

Besides, the company said the strength of its current trading and its treasury position leads the Board to the view that it will be appropriate to approve the payment of a second interim dividend of 12 pence per ordinary share on March 23 to holders on the share register on March 2. This is an increase at interim of 20% on last year.

Further, it is the company's intention, subject to any unforeseen circumstances, to suggest the payment of a final dividend on June 22, 2012 of at least 16 pence per ordinary share for the year ending January 31, 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amazon has slashed the price of 4K movies and tv shows, probably to compete with launch offer of Apple TV 4K that plans to sell 4K content at the rate of HD content. The 4K version of its set-top box is expected to be in market next week. The Securities and Exchange Commission or SEC announced Monday its two new initiatives aimed to address cyber-based threats and protect retail investors. SEC announced the creation of a Cyber Unit to focus the Enforcement Division's substantial cyber-related expertise on targeting cyber-related misconduct. The agency also established a retail strategy task force. China has largely blocked instant messaging service WhatsApp, the media reported. The disruption is said to be the latest step to tighten censorship as the country prepares for the Communist Party's congress in Beijing, which starts October 18.
comments powered by Disqus
Follow RTT