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Pin to quick picksMccoll's Share News (MCLS)

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Liberum cuts target price on McColl's following profit warning

Mon, 03rd Dec 2018 10:28

(Sharecast News) - Analysts at Liberum cut their target price on British convenience shop and newsagent operator McColl's Retail on Monday, citing persistent challenges in the group's supply chain.Liberum dropped its target price on McColl's to 100p from its previous 150p mark after McColl's fourth-quarter update outlined continued supply chain disruptions that, "unfortunately", led the broker to lower its adjusted EBITDA forecasts by 22%-24%.The broker highlighted the collapse of Palmer and Harvey and the group's transition to Morrisons supply as causing much of McColl's troubles in 2018.Liberum, which maintained its 'hold' rating on McColl's, said the supply woes had also resulted in operational disruptions, a slower than planned roll-out of its Safeway ranges and some delay in buying negotiations.When discussing the numbers, Liberum said: "FY18E net debt is a beat reflecting good working capital management and greater sale and leaseback proceeds than we anticipated. There is no guidance on the full year dividend at this stage, but we prudently lower our forecasts broadly in line with our EBITDA cuts."McColl's shares tumbled in early trade after it issued a profit warning due to disruption from the collapse of wholesaler Palmer & Harvey.The company said it now expects earnings before interest, taxes, depreciation and amortisation of £35m for FY18 compared to a previous estimate of £44m. The company said that in the last 12 months, following the collapse of Palmer & Harvey, it has experienced "significant" supply chain disruption and has needed to accelerate the rollout of Morrisons supply to 1,300 of its stores."The speed of this transition has created significant challenges and severely disrupted our plans for the launch of Safeway," it said."We are extremely grateful for Morrisons' support during this period, and whilst the transition is now complete, we are continuing to experience a number of challenges. We are working together to address these issues and to develop an optimal range and promotional offer for the future."
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1 Nov 2022 16:39

Morrisons to shut 132 McColl's stores, with 1,300 jobs at risk

(Alliance News) - Around 1,300 jobs are at risk at McColl's Retail Group PLC after Morrisons revealed proposals to shut 132 loss-making stores in the convenience chain it bought earlier this year.

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10 Oct 2022 20:39

IN BRIEF: CMA "minded to accept" Morrisons proposals re McColl's

McColl's Retail Group PLC - Brentwood, Essex-based convenience store chain - the UK Competition & Markets Authority says it is "minded to accept" an offer from Morrisons to sell 28 McColl's stores to address competition concerns in the areas where those stores are located.

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10 Oct 2022 12:27

CMA provisionally clears Morrisons takeover of McColl's

(Sharecast News) - The Competition and Markets Authority said on Monday that it has provisionally cleared Morrisons' takeover of convenience retailer McColl's.

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22 Sep 2022 11:13

Smiths News performs ahead of market expectations on strong sales

(Alliance News) - Smiths News PLC on Thursday said it is performing ahead of full-year market expectations, despite McColl's Retail Group PLC going into administration.

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8 Sep 2022 10:12

Morrisons takeover of McColl's could lead to higher prices, says CMA

(Sharecast News) - The Competition and Markets Authority said on Thursday that Morrisons' takeover of convenience store retailer McColl's could lead to higher prices.

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13 Jul 2022 11:43

UK CMA probes Morrisons' purchase of convenience store-chain McColl's

(Alliance News) - The UK Competition & Markets Authority on Wednesday said that it is launching an enquiry into Wm Morrison Supermarkets' planned takeover of convenience store-chain McColl's Retail Group PLC.

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24 May 2022 16:04

UK shareholder meetings calendar - next 7 days

Wednesday 25 May  
Access Intelligence PLCAGM
Amur Minerals CorpAGM
Aston Martin Lagonda Global Holdings PLCAGM
Bakkavor Group PLCAGM
Bango PLCAGM
Bodycote PLCAGM
Eleco PLCAGM
International Public Partnerships LtdAGM
Intertek Group PLCAGM
M&G PLCAGM
Manx Financial Group PLCAGM
Mortgage Advice Bureau Holdings PLCAGM
Property Franchise Group PLCGM re final 2021 dividend
Regional REIT LtdAGM
Sabre Insurance Group PLCAGM
Trustpilot Group PLCAGM
Tullow Oil PLCAGM
Zenova Group PLCAGM
Zotefoams PLCAGM
Thursday 26 May 
Aminex PLCAGM
Bank of Ireland Group PLCAGM
Belvoir Group PLCAGM
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Curtis Banks Group PLCAGM
Diaceutics PLCAGM
Duke Royalty LtdEGM re fundraise
East Star Resources PLCAGM
Energean PLCAGM
Henry Boot PLCAGM
Hochschild Mining PLCAGM
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National World PLCAGM
Ocean Wilsons Holdings LtdAGM
OnTheMarket PLCGM re cancellation of capital
Prudential PLCAGM
S&U PLCAGM
Staffline Group PLCAGM
Strix Group PLCAGM
WAG Payment Solutions PLCAGM
Yu Group PLCAGM
Friday 27 May 
AG Barr PLCAGM
Big Technologies PLCAGM
Coca-Cola Europacific Partners PLCAGM
Destiny Pharma PLCAGM
Hostmore PLCAGM
Lancashire Holdings LtdAGM
Lekoil LtdEGM re appointment and remuneration of auditors
LSL Property Services PLCAGM
Malin Corp PLCAGM
Old Mutual LtdAGM
Oxford BioMedica PLCAGM
Renewables Infrastructure Group LtdAGM
Spectris PLCAGM
Monday 30 May 
Adriatic Metals PLCAGM
Clarify Pharma PLCAGM
Tuesday 31 May 
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JTC PLCAGM
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McColl's Retail Group PLCAGM
Microlise Group PLCAGM
PageGroup PLCAGM
Petershill Partners PLCAGM
Sportech PLCAGM
Tekcapital PLCAGM
  
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12 May 2022 16:01

UK shareholder meetings calendar - next 7 days

Friday 13 May 
Derwent London PLCAGM
Gresham House Energy Storage Fund PLCGM re amendments to investment policy
Metro Bank PLCAGM
TT Electronics PLCAGM
Vulcan Industries PLCAGM
Wheaton Precious Metals CorpAGM
Monday 16 May 
88 Energy LtdAGM
Allianz Technology Trust PLCAGM
Blackbird PLCAGM
BSF Enterprise PLCGM
Crossword Cybersecurity PLCAGM
DigitalBox PLCAGM
Ethernity Networks LtdAGM
Jubilee Metals Group PLCGM - re right of directors to allot equity securities for cash
Mast Energy Developments PLCAGM
Metal Tiger PLCAGM
Tuesday 17 May 
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Capital & Regional PLCAGM
Chaarat Gold Holdings LtdAGM
Chesnara PLCAGM
Equals Group PLCAGM
European Assets Trust PLCAGM
Fidelity Japan Trust PLCAGM
Fintel PLCAGM
Fresnillo PLCAGM
GCP Asset Backed Income Fund LtdAGM
GENinCode PLCFull Year Results
Greggs PLCAGM
IQGeo Group PLCAGM
Kefi Gold & Copper PLCGM re share placing
Mears Group PLCAGM
Mercantile Investment Trust PLCAGM
Vitec Group PLCAGM
Vivo Energy PLCAGM
Wednesday 18 May  
ABCAM PLCAGM
abrdn PLCAGM in Edinburgh
Alliance Pharma PLCAGM
Burford Capital LtdAGM
Coats Group PLCAGM
CVC Credit Partners European Opportunities LtdAGM
EKF Diagnostics Holdings PLCAGM
Highcroft Investments PLCAGM
Impax Environmental Markets PLCAGM
JPMorgan American Investment Trust PLCAGM
Keller Group PLCAGM
LMS Capital PLCAGM
Merchants Trust PLCAGM
PensionBee Group PLCAGM
Permanent TSB Group Holdings PLCAGM
PYX Resources LtdAGM
Riverstone Credit Opportunities Income PLCAGM
Schroder UK Public Private Trust PLCAGM
Science Group PLCAGM
Seplat Energy PLCAGM
TI Fluid Systems PLCAGM
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Thursday 19 May  
Bigblu Broadband PLCAGM
Brand Architekts Group PLCGM re takeover of InnovaDerma
Capital & Regional PLCAGM
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Cornish Metals IncGM re equity raise
Dialight PLCAGM
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Genuit Group PLCAGM
Headlam Group PLCAGM
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InnovaDerma PLCGM re takeover by Brand Architekts
Irish Residential Properties REIT PLCAGM
K3 Business Technology Group PLCAGM
Light Science Tech Holdings PLCAGM
Live Co Group PLCGM
McColl's Retail Group PLCAGM
musicMagpie PLCAGM
Network International Holdings PLCAGM
Next PLCAGM
Pharos Energy PLCAGM
Property Franchise Group PLCAGM
Rotala PLCAGM
Smart Metering Systems PLCAGM
St James's Place PLCAGM
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Copyright 2022 Alliance News Limited. All Rights Reserved.

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9 May 2022 18:04

UPDATE: Morrisons clinches rescue deal for McColl's, beating EG Group

(Alliance News) - Wm Morrison Supermarkets has beaten EG Group in a takeover battle for collapsed retailer McColl's Retail Group PLC.

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9 May 2022 17:19

Morrisons confirms McColl's rescue deal

(Sharecast News) - Morrisons confirmed on Monday that it has agreed to buy convenience store operator McColl's from the administrator, seeing off competition from the Issa brothers' EG Group.

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9 May 2022 12:04

TOP NEWS: Morrisons tipped to beat EG in race to buy McColl's

(Alliance News) - Wm Morrison Supermarkets is expected to win control of collapsed retailer McColl's Retail Group PLC after a takeover battle with EG Group.

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9 May 2022 10:03

Morrisons wins race for McColls, to preserve jobs, stores - report

(Sharecast News) - Morrisons has won a two-way battle with the Issa brothers-controlled petrol retailer EG Group for control of the McColls retail chain, Sky News reported learns.

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9 May 2022 08:33

LONDON BRIEFING: West End landlords Shaftesbury and Capco agree merger

(Alliance News) - London West End property firms Shaftesbury and Capital & Counties Properties on Monday confirmed they are in advanced talks over a potential all-share merger.

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6 May 2022 20:14

PRESS: Issa brothers' EG Group close to McColl's rescue deal - Sky

(Alliance News) - The billionaire Issa brothers are planning to scoop up McColl's Retail Group PLC after the convenience store chain collapsed into administration, reported Sky News on Friday.

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6 May 2022 17:12

LONDON MARKET CLOSE: IAG drags on FTSE 100 at end of turbulent week

(Alliance News) - It was a rough ending to a difficult week for stocks in London amid a focus on central banking decisions.

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