I do. The moratorium on dividends was designed to concentrate on...

I do. The moratorium on dividends was designed to concentrate on repairing a pretty crook balance sheet and from everything I have read, this is well underway. I recall previous guidance that May and June were big months for sales, and I didnt miss the strong little rally through Friday afternoon as the tills closed for May (this may be absolutely unrelated to the 5% rise of course) but not bad in the silly tax selling season.

What I like is that in a Chairman's address in October 14 there was a statement that the company was reporting strong sales growth in Sheridan and Bonds particularly direct sales, and to back this up for me the company is pouring their CAPEX into this space.

I also like companies divesting to focus on what they do best and have a well established brand that over time has maintained consumer demand. And I really like that the proceeds of those divestments smashed down debt significantly, which was what kept me away.

The only negative, and I think it will be minor, is that around 75% of costs are in USD although, hedging arrangements have been in place to mitigate the risk. I don't see this having a huge impact on bottom lines.

Just my opinion, but I believe that they will reinstate divvies, and perhaps prematurely opportunistic it will lead to a rerating as the now lean and mean retail machine leverages off its retailer growth.

I am only recently back in this stock, but I really like what I see and a lifting of the moratorium on dividends in my view is realistic later this year.