2023-09-04 17:18:49
British clothing brand Superdry’s shares fell 16% on the London Stock Exchange on Monday for its return to trading, after the publication of results fell largely into the red and disappointing forecasts. The stock lost 16% to end at 47.00 pence. Superdry’s shares had been suspended in London on Wednesday after it announced that the publication of its annual accounts was delayed – the company explaining it by a change of auditor.
The title has seen its value divided by almost three since the beginning of the year, and by seven for two years. “The fall likely reflects investors’ disappointment with the latest earnings warning, issued on Friday as part of delayed annual results“, Estimates Russ Mould, analyst of AJ Bell.
Net loss of 148.1 million pounds
Superdry recorded a net loss of 148.1 million pounds (166 million euros) for its financial year ended April 29, against a profit of 22.4 million pounds a year earlier, citing in particular the significant weight of impairments of assets and an unfavorable tax effect. The chain of stores adds not to expect from “significant growth in turnoverfor the current fiscal year.
«To say it’s been a tough year for the company is an understatement.remarks Susannah Streeter, an analyst at Hargreaves Lansdown. “With sales set to flounder for Superdry in the months to come, investors are losing faith in the prospects for a turnaround“, she adds.
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