Hostmore – states revenue performance remains “broadly consistent”. Does it though?…
By Steve Moore | Wednesday 7 June 2023
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
'Fridays' (formerly TGI Fridays), '63rd+1st', and 'Fridays and Go' restaurants and bars company Hostmore (MORE) has issued an AGM trading update commencing that “like-for-like revenue and total revenue for the first 22 weeks of the year, adjusted for the variance in the VAT rate on food sales between FY22 and FY23, remain broadly consistent with the revenue performance for the first 16 weeks of the year” and also including “the ongoing loyalty of our guests is welcome” and “cost reduction initiatives… are benefitting EBITDA in line with the quantums and timings as previously communicated. Further opportunities for savings are being evaluated”. Good news then from a 21.8p share price, £27.5 million market cap?
Premium content is for paid subscribers only
ShareProphets is reader-supported journalism
Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.