Ann: COVID-19 Trading Update, page-3

Those who favour spreadsheets as their primary investment tool may care to model what's happened to sales in Q4 to give the revised 2020 forecast and how that's likely to feed into H1 2021. Unlikely to be pretty without the strong 8 months Jul-Feb.

Kudos to management response in this announcement though, although perhaps a little slow to foresee the likely impact in their previous announcement. First class, leading from the front with salary reductions in response to circumstances totally outside management control. They prepared as best they could with a solid balance sheet.

Contrasts markedly with our politicians. Also contrasts with some local and US management of larger companies. Gorging on more debt while they continue to pay themselves obscene salaries. Abject disgrace.

I'm sure Ms Cheetham would do a better job than 80% of them.