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Monsoon offer talks are over
Archived article dated Thursday March 23rd 2006
Last July Monsoon announced that it had entered into preliminary discussions with its Chairman, Peter Simon, regarding his family interests making a possible offer for the 24.6 per cent of the issued share capital not already owned by them.
The board announced that the family are no longer interested in proceeding with the possible offer.
On 16th January 2006 the Board announced that trading had been difficult throughout the autumn and like-for-like growth in the six weeks since the interim results had been based on significantly higher than planned stock levelsas the business entered the winter sale.
The company said that Since then trading has
continued to be very difficult. Like-for-like sales in the last 10 weeks have been - 4 per cent, and new stores have been disappointing. Consequently the results for the year to 27th May 2006 will be adversely affected, although the outcome is unlikely to be less than the £53.1m profit before tax achieved in the previous financial year.
Tagged as: monsoon
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