Angela 'Pennies makes Pounds' Noon : Chief Financial Officer
I mean, it's a question I got also myself, um, a couple of weeks ago,
RMCtv :Angela Noon Chief Financial Officer : Why we pay dividends to share holders and not use the money for pay rises : Needs to sack her researcher
I think the first thing I'd say is when we announced our results today this was actually group profits and it's important to note that GLS is actually half or just under half of our group profits.
And when we look at dividend and p, we are looking at it from a very different perspective, and I think the first thing I'd say is dividend is something that we can cancel at any time when we agree to a pay deal is something we're doing and we committed to perpetuate, so it has to be affordable.
I think that's the first thing I'd say.
And the other thing I'd say is that we basically when we look at, some of the comments on workplace, there's been a lot of comment about you've paid more dividend than you have pay and I think that's such a dangerous conversation and I try not to mix these two things because you really can't compare them.
But if I were to compare them since we IPO'd, we've actually given increases of almost five billion pounds and we've paid out dividends of only two billion.
And that's why I always caution because you know you really shouldn't compare these things because they are, as I said, quite quite different, but I hope that gives a bit of context.
And the other thing I say in terms of being affordable is, you know we've just announced those results today, and can I just say, thank you so much for all the team efforts, it was a solid performance and we are very proud of it.
But when we look at our outlook. we are actually now indicating to the market that we are going down to something around about three hundred million of profit and maybe just to put that in context because I'm sure many of you have read the press release.
We are a going down one hundred million from where we ended and announced today and that's a hundred million even after we've hoped to deliver three hundred and fifty million of savings, so that's quite a downturn.
And of course, it's it has a result of a lot of macroeconomic challenges which were announced today.
And so that's back to that affordability topic. we want to give a decent pay rise. we want to give you what you are due, but it is about affordability..
# We have the right amount of money-just not in the right-pockets
