Interim Management Statement

13 Jun 2008 07:00



Moss Bros Group Plc

Interim Management Statement

Release - 13 June 2008 @ 7.00 am

LFL sales for the first 19 weeks of the year to 7 June are lower by 1.5 %.

Working capital continues to be managed very tightly.

Average daily cash balances 10% higher than the same period last year.

Total stock balances down 10%.

Stock over six months old down 41%.

Following earlier management actions and ongoing initiatives, the business is well placed to both limit any further downside from a continuing volatile environment, and take full advantage of any improvement.

The Board is now declaring a special dividend of 1.3 pence per share which will be paid on the 28 July 2008 with a record date of 27 June 2008.

Philip Mountford, Chief Executive, said:

"The men's retail market continues to be extremely challenging but management believes the business is well set up to navigate this difficult period. As the UK's No 1 branded suit specialist with a wide range of fashionable suit collections, we are well differentiated from our competitors.

With the distraction of a potential takeover bid now removed management's attention and energy will be re-focused on driving the business through the short term as well as concentrating on implementing our 3 year strategic plan, to re-invest in our current portfolio, grow the core Moss chain and develop our Asian supply chain."

Enquiries:

Moss Bros Group Plc: 0207 4477239

Philip Mountford, Chief Executive

Michael Hitchcock, Finance Director

Tulchan Communications: 0207 353 4200

Andrew Honnor