Rallye’s new PIK facility is good news as it constitutes no fundamental change in the ranking of liabilities, but extends the deadlines
Read MoreWe are having a change of heart on Pizza Express and are exiting our position in the SSNs. As we made further allowances for the Coronavirus
Read MoreWhile Japanese kids get to skip school, just some graphs that caught the eye:
FFR needs to overshoot - come down 100bps - to ensure not only liquidity, but also instils the confidence in it - see 2002 and 2009 for comparison:
Read MoreApparel retail remains under pressure.
ABF reported on Monday that Primark was seeing LfL sales down 1.3%. In contrast to other retailers however, Primark had reported
Read MoreRAC FY19 numbers exceed model:
- Sales: H2 £318m versus £307m
- Gross Profit: H2 £162m v £154m
Read MoreS&P have released their next batch of ratings for water companies.
However, neither Southern, nor Thames are amongst them.
Actions today have been:
Read MoreThe Astaldi convertibles have approved the Concordato Preventivo, but the bonds
Read MoreLycra presented (presents) at a JPMorgan Conference at have shared some details of their Q4 numbers via the presentation. Full release is 30th March, with a call on 3rd April. We remain
Read MoreLowell have found a new CFO.
Jamie Wilson - previously CFO of direct selling giant Avon and at SabMiller and more recently non-exec. at Thomas Cook.
Presumably he has
Read MoreA rights issue after all. The possibility had been touted by the company for a long time and even in hindsight seemed an increasingly remote proposition. While fundamentals at the company had been
Read MoreFirst up, we are very proud that some of you bought the SUNs with us after New Year and we look forward to knitting a tight club together for more analysis, more intel, more P&L.
Read MoreWe remain long the SUNs for 5% of NAV since “purchase" in early Jan.
Very strong LfLs, EBITDA, Cash Flow throughout the business. All stats effectively track model.
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