StockMarketWire.com - Men's suit retailer Moss Bros scrapped its interim dividend after tough trading conditions drove it to another first-half loss.

Pre-tax losses for the six months through 27 July amounted to £2.7m, compared to losses of £4.2m on-year.

Revenue, excluding value-added tax, rose 1.4% to £65.4m.

Adjusted pre-tax profit before the adoption of IFRS 16 accounting standards was just above breakeven, compared to £0.2m on-year.

Moss Bros said it was seeing results across the first eight weeks of the second half 'consistent with our full-price focus and with less old season stock to clear'.

'We expect to be able to deliver full year results in line with market expectations,' it added.

Chief executive Brian Brick said it felt like the company was gaining traction in a number of areas.

'The return to growth of our stores is extremely important to us and we will continue to focus on maintaining this trend,' he said.

'The growth which we have seen in stores is set against a backdrop of lower footfall in our stores than last year in most locations in which we operate.'

The company also said it had launched an 'eco suit', made from up to 45 plastic bottles.

The suit, which came with a £169 price tag, was cut from recycled polyester-blend cloth, with canvas and trims 'consciously chosen for their low impact on the environment', the company said.

The plastic bottles in each suit would otherwise go to landfill, Mos Bros said.

The suit was being manufactured in India. Story provided by StockMarketWire.com