Updates

Boohoo

December 2021

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares stumbled after Boohoo lowered full year guidance slightly to reflect ongoing market uncertainty and input cost pressures. Revenue growth is now expected to be 20-25% (versus 25% previously) with EBITDA margin adjusted to 9-9.5% from 9.5%-10.0%.Zeus Capital has lowered FY’22 EBITDA forecasts 6.5% to £198.4m for new eps of 10.1p. Jefferies expects eps of 9.6p.First half results showed revenue up 20% to £975.9m, up 73% on two years ago, so still hardly shabby. But Q2 sales rose only 9%, which the group blames on higher UK returns rates (versus unsustainable lock-down comparables), physical stores reopening, consumer uncertainty and Covid-19 affected supply chain disruption. EBITDA margins are affecte ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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