Business
Deferral of FY19 results & suspension of dividend
Deferral of FY19 results & suspension of dividend.
About this update from Secure Trust Bank Plc
[{"type":"text","content":"\n \n \n RNS Number : 2925H\n Secure Trust Bank PLC\n 24 March 2020\n \n \n \n \n PRESS RELEASE\n \n \n Tuesday 24 March 2020\n \n \n For immediate release\n \n \n \n \n \n SECURE TRUST BANK PLC\n \n \n \n \n \n Deferral of announcement of Annual Audited Results for the year ended 31 December 2019, Trading Update and suspension of final dividend\n \n \n \n \n Secure Trust Bank PLC announces that the publication of the Full Year Results of the Company and its subsidiaries (the Group) for the period ended 31 December 2019 will be delayed beyond 26 March 2020, the date on which the Results had been expected to be announced.\n \n \n \n \n This decision was made following a request\n by the Financial Conduct Authority (the FCA) that, in the light of the ongoing COVID-19 developments, companies delay making preliminary announcements that were due in the week commencing 23 March 2020. In response to this request, the Board has agreed to delay announcing the 2019 Full Year Results.\n \n \n \n \n \n On 15 January 2020 the Group issued a trading statement and noted that t\n he 2019 full year results are expected to be in line with management's and the market's expectations. This remains the case. \n \n \n The Group entered 2020 aspiring to deliver double digit percentage growth in profit before tax. After the first two months performance was ahead of management expectations. In recent weeks the UK and global economies have become exposed to unprecedented levels of uncertainty due to COVID-19. The Group is implementing plans which seek to limit the operational and economic impact. Whilst there has been no change in business performance to date, save for reduced demand for the Group's Retail Finance and Motor Finance products, it is impossible to quantify potential COVID-19 impacts with any certainty and the Group is not providing forward guidance for 2020 at this time. For the same reason the Board is not recommending a final dividend for 2019.\n \n The Group remains focused on supporting its customers, staff and business partners while seeking to mitigate risks and continue to generate profits.\n \n \n \n \n \n \n \n Enquiries: \n \n \n \n \n \n Secure Trust Bank PLC\n \n \n Paul Lynam, Chief Executive Officer\n \n \n Tel: 0121 693 9100\n \n \n \n \n \n Stifel Nicolau...