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Monsoon founder takes huge dividend cut

Monsoon founder Peter Simon took a huge cut to his dividend last year, down to £5m from £27m the year before, as the retailer’s performance continues to struggle.

Simon also vowed to take no further dividends until the retailer saw an improvement to its fortunes, according to The Times.

This comes as Monsoon Accessorize announced further falls in profits in the year to August 2016, with group turnover down 9.2% to £422.2m and EBITDA declining 16.4% to £20.3m.

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