Caution note from rns15 May 2024 15:34
I notice there is only 167m shares on issue , and this from the RNS as a caution note.
As a principal (rather than an agent), Classic accounts for revenue on a "travelled" basis and reports revenue on a gross basis.
The high street remains an extremely competitive market for B2B sales, which has contributed to a reduction in bookings of 6% on a travelled basis since the prior year. Despite the changes made in Q4 FY23 to centralise a number of group functions, costs to serve remain high. This has driven the need for a strategic review and conclusion that a simpler operating model is required to serve the B2B market.
For the purposes of IFRS 5, we expect CCH to be classified as discontinued operations during H2 24.