Category: Trading updates
Profit Warnings: They’re just not all made the same…
Crawshaw & Premier Foods warned on trading in Sept & Oct respectively: Negative profit (or sales) warnings are never good Nor are they neutral but, even if they are all negative, some are more negative than others Existential, business-model threatening warnings: See Monetise, Jessops, Blockbuster, Woollies etc. as existentially-challenged companies More recently, Crawshaw (high PER…
Tread carefully; recent FTSE rally inflates already hard-to-justify valuations
Domino’s Pizza UK: Sustaining the Growth
Domino’s Pizza UK – Quality at an Unreasonable Price? Domino’s UK’s business model is high margin, highly efficient, and spins off cash. However, LfLs in its recent Q3 statement were down (from +14.7% in Q3 2015 to +10.5% for its important UK market, which accounted for 93% of group revenue in the period). Meanwhile, DOM…
Leisure Spending, JDW, Brexit
Leisure & the Brexit vote – Assessing the Impact
The initial financial impact. 52% of voters (38% of the electorate) voted to leave the EU on 23 June The FTSE100 fell then rose. It is now +3% since 23 June. But FTSE100 is an international index. In US$ terms (pound down 13%), it is down 10%. The largely domestic FTSE250 is down 9% in…