Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Housebuilder Abbey scrapped its final dividend and said it expected annual profit to drop by more than a third as performance in its final quarter of the year was 'significantly' impacted by the Covid crisis.
For the year ended 30 April 2020, the company said expected to pre-tax profit of €33.0m, down 38% from €53.0m on-year.
Trading in the last quarter was significantly impacted by the Covid crisis.
Looking ahead, the company said it was trading profitably in the current year. 'Higher Sales completions in Ireland and Czechia should ensure that overall house sales volumes at least exceed this year.'
'In the light of current events the board will not recommend a dividend at the annual general meeting,' the company said.
At 8:27am: (LON:ABBY) Abbey PLC share price was -60p at 1180p