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$2.09 adairs limited

Ann: ADH - AGM Presentation FY23, page-4

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sirjezdog

1,108 Posts.

128

24/11/23

12:49

Post #: 71089202
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Originally posted by PortfolioPlus: ↑

Agree. Not encouraging.More quicksand to negotiate short term, but overall the brand is strong.
Mocka may have stemmed some bleeding, but it is still going backwards - it has become almost irrelevant. And surely cannot have a carrying value on the Balance Sheet of approx $80m. The sooner they face the music here, the better.

The actual scenario is that the core Adairs business is down a whisker off 10% in the first 21 weeks of FY24. That is huge.
Focus on Furniture off 8.7% - which doesn't necessarily compare favourably when you look at the higher value Nick Scarli range which was off 6.7% on a like for like basis.
I think the analysts might trim their average FY24 Rev at $585m a little more, given this announcement,
Doubtful on an interim dividend.

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We already knew they were down that from the trading update, so no further deterioration.

Zero chance of a dividend.

ADH Price at posting: $1.46 Sentiment: None Disclosure: Not Held
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(20min delay)
Last $2.09		Change -0.040(1.88%)		Mkt cap ! $365.0M

Open	High	Low	Value	Volume
$2.10	$2.14	$2.08	$740.4K	349.7K

Buyers (Bids)

No.	Vol.	Price($)
2	1082	$2.08

Sellers (Offers)

Price($)	Vol.	No.
$2.11	4956	2

View Market Depth

No.	Vol.	Price($)
2	1082	2.080
2	3901	2.070
1	3856	2.060
1	9756	2.050
6	32930	2.040

Price($)	Vol.	No.
2.110	4956	2
2.120	4956	2
2.130	1100	1
2.140	28848	3
2.150	21184	8

Last trade - 16.10pm 02/10/2024 (20 minute delay)

ADH (ASX) Chart