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Adjusted profit before tax
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Exceptional charge net of tax of £48.1m (FY19: £14.9m), including £43.2m non-cash inventory impairment charge
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Loss after tax at £10.7m (FY19: £82.5m profit after tax)
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Good trading performance since the spring lockdown and reservation levels in line with expectations during January 2021. Year to date sales per outlet week (SPOW) of 0.60
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Forward sales as at 15 January 2021 of 2,435 units and £564.5m Gross Development Value (GDV) c.55% of FY21 covered (17 January 2020: 2,346 units and £503.5m GDV)
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FY20 SPOW of 0.59 (FY19: 0.76)
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Average outlets at 63, up from 59 in FY19, in line with our strategic priority to grow outlets
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Excellent progress strengthening balance sheet through better WIP management and control