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Name | Symbol | Market | Type |
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Tbg Dividend Focus ETF | AMEX:TBG | AMEX | Exchange Traded Fund |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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-0.096 | -0.33% | 28.9431 | 29.03 | 28.9101 | 29.03 | 3,375 | 21:15:00 |
RNS Number:8561M Tibbett & Britten Group PLC 27 June 2003 27th June 2003 TIBBETT & BRITTEN GROUP PLC TRADING UPDATE Prior to entering its closed period for the six month trading period to 28 June, 2003, Tibbett & Britten, the UK-based international logistics service provider, is issuing the following trading update: In the UK, we continue to make good progress and have seen a number of new contract wins. These include significant new business with Boots and additional new business with Homebase, Tesco and other major retailers. The impact of this new business will primarily benefit the second half. In the Americas, we have successfully started up operations for Procter & Gamble in Mexico and continued the development of our Mexican business. In the US, our business remains broadly on track, however Safeway, Inc. advised us, on June 26, of their intention to take the Tracy, California operation back in-house from August 2003. Safeway has assured us that this decision has not been made on performance grounds. The consequent impact in lost contribution in the second half will be approximately #0.5m. Under the open book contract with Safeway we will not incur any termination costs. As a result of the terms of the revised agreement entered into with Safeway in July 2002, settling an earlier long running dispute, we will also write off unamortised contract costs of #3.5m in the first half. Additionally, in the first half we have recognised a provision of #3.1 million against an outstanding receivable from a former North American customer who entered into Chapter 11 Bankruptcy proceedings. Although we anticipate receiving a considerable portion of the balance outstanding, we have provided against the full amount. The impact of this provision has broadly been offset by the termination payments to be received in connection with the Marks & Spencer contracts. Elsewhere, Canada remains a buoyant market with encouraging levels of new business development. We believe that the trend towards outsourcing in the North American market is continuing. We are continuing to build a Mainland European business despite the difficult economic environment, particularly in France and Iberia. We have won new business with Levi Strauss, Rubbermaid, Tesco and successfully started operations for Rodier. We continue to expand our fashion capability throughout Europe. Enquiries: Tibbett & Britten 020 8327 2000 Mike Arrowsmith, Chief Executive Mark Whiteling, Group Finance Director Hudson Sandler Ltd. 020 7796 4133 Andrew Hayes/Jessica Rouleau This information is provided by RNS The company news service from the London Stock Exchange END TSTILFIARIIRFIV
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