Topic: [VCH] Charles Voegele
Charles Voegele wrote:
Outlook
In view of the negative earnings position, and in line with the company's dividend policy, the Board of Directors will not be proposing a distribution of profits at the Shareholders' Meeting. The operating environment for the clothing market is unlikely to improve significantly this year. If unemployment continues to rise, this will have a noticeable impact on consumer behaviour. Nevertheless, the Board of Directors and Group Management are confident that the measures taken will move the group back into profit this financial year. The medium-term aim is an EBITDA margin of 10%.