Finsbury Foods Group Plc (LON:FIF) said it is considering whether to reinstate a dividend in the financial year 2021 but will make a decision once the outlook is more certain.
The baker said it is starting to see some positive monthly sales trends that hint at the beginnings of a recovery, though it is hard to forecast the pace of it due to continued market volatility.
At peak, the AIM-listed firm had furloughed 534 staff but this has now been reduced to 94 as of August 31.
In the year to June 27, revenue dipped 3% to £306mln but profit before tax slumped 79% to £2mln after writing down the Ultrapharm acquisition.
Shares dipped 1% to 56.46p on Monday at the opening bell.
Published at Mon, 21 Sep 2020 07:31:00 +0000-Finsbury Foods mulls over next year’s dividend as profits slump