The group which angered shareholders last month when it ended takeover talks has reported pre-tax losses of £5.5 million. This compares with a profit last time round of £8.5m.
The dividend was cut 3.95p to 1p leaving shareholders with a total pay-out of 3.65p – down from 6.6p.
Chief-executive, Edward Roderick said: 'Economic and trading conditions in the UK remain extremely challenging with a corresponding effect on both volumes and margins.'