5 November 2020 - interim results

The supermarket group has issued its interim results covering the 28 weeks to 19 September.  These were quite impressive in some ways as the company reported underlying pre-tax profits of £301m, compared with £238m last year, although these were tainted by one-off costs of £438m relating to the closure of Argos stores and other items.  The company has announced a special dividend of 7.3p in lieu of the cancelled final dividend of earlier this year as well as an interim dividend of 3.2p.  Although superficially, the level of dividend looks attractive . . .

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