- Furniture fabric and wallpaper manufacturer Colefax scrapped its interim dividend as it readies for Covid-19 pandemic to hurt demand.

The company had intended to pay an interim dividend of 2.6p per share.

Trading up until mid-Mach had been line with the company's expectations but conditions had worsened more recently.

'Until there is greater clarity about the full impact of the pandemic, it is very difficult to give accurate guidance on the future sales impact but it is likely to be significant,' Colefax said.

'The group has a strong balance sheet and the board's priority is to conserve cash and manage the group through the crisis as prudently as possible.'

'The board will review the group's dividend policy when there is greater clarity about the future impact of the pandemic.'

At 2:32pm: [LON:CFX] Colefax Group PLC share price was -35p at 345p

Story provided by