Dividend chopped at Homestyle

BEDS, furniture and furnishings group Homestyle has slashed its dividend total from 20p to 11.65p after tumbling into the red by more than £10m in the 60 weeks to 26 April, against a profit of £16m in the previous 12 months. The group was hit by hefty exceptional charges and a poor performance in its furniture unit. It also paid £1m in a £15 million VAT row with Customs and Excise.