Beleaguered pub company Eldridge Pope has said it doesn't expect to see a recovery in its business during the first half of its new financial year because of difficult high street trading.
The company had previously issued the guidance at the presentation of its full-year results, which it described as "disappointing", in early December.
Speaking at its February AGM, newly appointed chairman Miles Templeman said: "As we stated in December, it is unlikely that the timing of the recovery will show in the first-half results, but the board is confident that it has adopted the correct strategy."
Pre-tax profit for the 12 months to 4 October 2003 was £3.5m, compared with £6.4m a year earlier. Turnover for the year was £70.5m, up slightly on £69.6m in 2002.