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Hostmore – trading update emphasising ‘pro forma EBITDA’. Er, a few issues…

By Steve Moore | Tuesday 16 January 2024

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.

TGI Fridays and more restaurants company Hostmore (MORE) has issued a trading update including that it “is pleased that the four week December 2023 holiday period generated a further improvement on H2's overall trend, with LFL revenue +4% compared to December 2022… currently expected that H2 2023 generated unadjusted FRS102 EBITDA of £5.4 million, with an EBITDA profit being realised in each of the six months of the period”. So what of that from a current down to 21p share price, £26.5 million market capitalisation?
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