Shares digital

Moss Bros (MOSB) – Finals PTP: £0.2m (-£3.4m) Divi: 0.5p (1.8p)

During the year the group issued three profit warnings mirroring the decline in consumer confidence. Apart from poor underlying trading Moss Bros suffered property losses of £1.2 million. Although trading worsened during the year, the group has enjoyed a modest upturn so far this year.

In February it announced that it had granted 28.7% shareholder Baugur due diligence access on the basis of a bid at 42p. Although this angered the Moss and Gee families they may have an unrealistic idea of the value of the business. At least one alternative bidder has withdrawn. The only hope of an auction is the recent decision of Laura Ashley to buy shares at 46p. If there is no bid the board will then declare a special 1.3p divi.

Shares says: Investors should continue to hold as Laura Ashley may counterbid.

by: John Marshall