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Threeputt; the statement says that "The other parties who previously expressed an interest have confirmed that they are no longer considering a possible offer for the Company" meaning no bidding war on this occasion.
390p isn't going to happen anytime soon. If there was a quick end to the war in Ukraine, inflation dropped to 3%, interest rates peaked early in the new year and the FTSE 100 rose to 10,000 then maybe. But that's not going to happen in the next year.
A small boost to the share price on the back of the IC article which was very positive. Hopefully, if more people know about the company it will increase liquidity and reduce the spread.
Apologies, the last sentence of my previous post is wrong. As pickled Peck has pointed out there would have been decent growth in the Like for Like sales even without the currency headwinds.
But i still maintain that today's fall is at least in part due to the stronger Pound. That, and perhaps a move out of defensive stocks.
It's because of the strengthening Pound. Fellow global consumer giants Diageo, Unilever and Coca-Cola HBC who make most of their profits overseas are all down by between 2.5 and 4% too.
The RKT 3rd Quarter results were massively helped by "currency tailwinds" according to the update. Take that away and like for like growth is non existant or even down.