Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improved over the past week After last week's 38% share price gain to UK£3.90, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Specialty Retail industry in the United Kingdom. Total returns to shareholders of 175% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£1.62 per share. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 16% share price gain to UK£2.90, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Specialty Retail industry in the United Kingdom. Total returns to shareholders of 156% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£1.56 per share. Reported Earnings • Aug 12
First half 2021 earnings released: EPS UK£0.31 (vs UK£0.16 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: UK£1.33b (up 49% from 1H 2020). Net income: UK£24.0m (up UK£36.3m from 1H 2020). Profit margin: 1.8% (up from net loss in 1H 2020). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improved over the past week After last week's 15% share price gain to UK£2.46, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 20x in the Specialty Retail industry in the United Kingdom. Total returns to shareholders of 69% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£2.54 per share. Recent Insider Transactions • May 30
CEO & Executive Director recently bought UK£57k worth of stock On the 27th of May, Daksh Gupta bought around 31k shares on-market at roughly UK£1.86 per share. This was the largest purchase by an insider in the last 3 months. This was Daksh's only on-market trade for the last 12 months. Executive Departure • Apr 19
Independent Non-Executive Chairman Richard Parry-Jones has left the company On the 16th of April, Richard Parry-Jones' tenure as Independent Non-Executive Chairman ended after 2.3 years in the role. We don't have any record of a personal shareholding under Richard's name. A total of 2 executives have left over the last 12 months. Executive Departure • Apr 11
Non Executive Director has left the company On the 8th of April, Kathryn Jenkins' tenure as Non Executive Director ended after 2.9 years in the role. We don't have any record of a personal shareholding under Kathryn's name. Kathryn is the only executive to leave the company over the last 12 months. Reported Earnings • Apr 02
Full year 2020 earnings released: EPS UK£0.18 (vs UK£0.20 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: UK£2.15b (down 5.3% from FY 2019). Net income: UK£13.9m (down 11% from FY 2019). Profit margin: 0.6% (down from 0.7% in FY 2019). The decrease in margin was driven by lower revenue. Like-for-like sales growth: Down 13.5% vs FY 2019 Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Mar 10
Full year 2020 earnings released: EPS UK£0.18 (vs UK£0.20 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: UK£2.15b (down 5.3% from FY 2019). Net income: UK£13.9m (down 11% from FY 2019). Profit margin: 0.6% (down from 0.7% in FY 2019). The decrease in margin was driven by lower revenue. Like-for-like sales growth: Down 13.5% vs FY 2019 Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 10
Revenue and earnings miss expectations Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 2.7%, compared to a 6.1% growth forecast for the Specialty Retail industry in the United Kingdom. Is New 90 Day High Low • Mar 09
New 90-day high: UK£1.55 The company is up 7.0% from its price of UK£1.45 on 09 December 2020. The British market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£1.13 per share. Is New 90 Day High Low • Jan 18
New 90-day low: UK£1.25 The company is down 2.0% from its price of UK£1.28 on 20 October 2020. The British market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£1.13 per share. Is New 90 Day High Low • Dec 09
New 90-day high: UK£1.45 The company is up 14% from its price of UK£1.28 on 10 September 2020. The British market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£0.76 per share. Is New 90 Day High Low • Nov 11
New 90-day high: UK£1.37 The company is up 11% from its price of UK£1.23 on 12 August 2020. The British market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£0.76 per share. Is New 90 Day High Low • Oct 09
New 90-day low: UK£1.20 The company is down 2.0% from its price of UK£1.23 on 10 July 2020. The British market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£0.88 per share. 
