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Haha yeah.. :/
I think if it's going to happen it'll be this year, otherwise it's likely the turnaround (if it goes to plan) will be well and truly beyond green shoots. Never say never I just think the time would be this year if it'll happen. Otherwise we will back making profit, growing revenues and sat at £15 a share 😉💪
I mean if the BOD were that confident of FY25 guidance and beyond in terms of the margins back to pre COVID, profitable and revenue growing business there would be absolutely no reason to sell this unless an offer was realistic not opportunistic. Share prices are in the gutter for a reason, they won't remain there..
It's not beyond the realms of possibility though it would have to be very good I feel for the bod to even consider and then disclose it as then it would mean they are serious. I don't see it myself but it's always lurking whilst the turnaround is ongoing..
Let's see how long this overhang takes to clear ehh. Plenty of buying the last few days or so, but clearly a lot of shares bouncing around. Hopefully some sort of court decision before the summer and some updates from both projects should spur a bit of activity :/ lol
Fair point Eric. I don't think they are that interested in us.. they are wanting the high net worth/strategic investors onboard which I really hope happens.
However, we should also have that information to hand as well, with relative ease.
Just a reminder :)
In FY25 we expect to deliver revenue growth and return EBITDA margin to around pre-Covid levels (c.6%). In the medium-term we have confidence in our ability to return to double-digit growth; steadily improve gross margin back towards c.50%; maintain EBITDA sustainably ahead of capex, interest, tax, and leases; reduce capex to 3-4% of sales; and deliver inventory of c.100 days.
· FY24 is about taking the necessary action to get us to that path. Our priorities of accelerating towards our new commercial model and strengthening our relationship with consumers require investment in the near term into marketing and the discounting of aged stock to exit the year with a clean stock position, including using offsite clearance channels where necessary.
· As such, our expectations for FY24 are unchanged:
- Sales decline of 5 to 15%, with P4 FY23 trends continuing through the first half of FY24 and a return to growth in the final quarter of FY24.
- Adjusted EBITDA positive.
- Stock back to pre-Covid levels (c.£600m as previously communicated).
- Capex of c.£130m6.
- Positive cash generation, reducing our net debt position.
Providing there is no more dilution to shareholders. Suitable 'other' types of funding need to be acquired. Otherwise a good read and does highlight the potential and quality we have here. Need that bit of luck though and management not wanting to destroy shareholder value.