TheWorks.co.uk (#WRKS) – sanctions against KPMG and Anthony Sykes re. year ended 26th April 2020 audit
- 2023-04-26 06:59:59
A week ago I wrote on a half-year trading update from arts and crafts, stationery, toys and books retailer TheWorks (WRKS), reviewing how “resilient” is its performance?. That, of course, included noting its cash flow – with it emphasising that its “financial position remains strong with net cash of £11.0m at the period end” and also noting that it “fully reflects the build of stock prior to the peak trading season”. Now a “Correction: Half-Year Trading Update” announcement.
Previously writing on arts and crafts, stationery, toys and books retailer TheWorks (WRKS), in September with the shares at 37.75p I reviewed emphasises “strong” full-year results, but is the company right to be ‘confident in its prospects’?. So what now with the shares most recently closing at 34.5p and currently further lower on the back of a “Half-Year Trading Update”?
Arts and crafts, stationery, toys and books retailer TheWorks (WRKS) has announced results for its year ended 1st May 2022 and that “there is confidence in the group's prospects”. So what of a share price currently up to 37.75p?
Previously writing on arts, crafts, toys, books and stationery retailer TheWorks (WRKS), in May with the shares up to 57p I noted reckons can deliver further sales growth… but consumer pressures starting to bite?. The shares last closed at 46.5p and today a further “trading update”.
Arts, crafts, toys, books and stationery retailer TheWorks (WRKS) has issued a full-year trading update including “trading performance… well ahead of pre-COVID levels… net cash of £16.3m… Dividend re-instated; the board expects to recommend a dividend of approximately 2.4 pence per share alongside its FY22 results in September and maintain a progressive dividend policy thereafter”. With though also the EBITDA forecast only “reiterated”, what of a current more than 13% increased share price to 57p?...