McColl's Retail Group (MCLS)

Sector:

Food Pharmacy Retail

Index:

FTSE Fledgling

 41.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 87.40
  • 52 Week Low: 15.50
  • Currency: UK Pounds
  • Shares Issued: 115.19m
  • Volume: 1,127
  • Market Cap: £47.23m

McColl's dragged to a loss following 'unseasonable weather'

By Iain Gilbert

Date: Wednesday 26 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Convenience store group McColl's cancelled its dividend on Wednesday after announcing it had swung to a loss of almost ?100m in 2019.
McColl's said it had swung from a profit of ?7.9m in 2018 to a loss of ?98.6m in its recently wrapped up trading year as "unseasonable weather" throughout December and weakened consumer confidence weighed on its results.

Adjusted earnings before interest, tax, depreciation and amortisation came in at ?32.1m - in line with the group's warnings back in December.

McColl's cited "softer market conditions" during the tail end of the year for the poor showing, which will see investors book a basic loss per share of 83.3p - a marked difference when compared to 2018's earnings of 5.95p per share.

The London-listed firm also cautioned that it was reviewing its 2018 balance sheet as part of an effort to reclassify a ?2.6m accrual and a ?10m loan as liabilities.

As far as dividends went, McColl's said: "Deleveraging the balance sheet is one of our key priorities for 2020 so, in combination with a number of cash management initiatives implemented by the executive team, the board has taken the difficult but prudent decision to suspend the final dividend for the 2019 financial year.

"The board recognises that dividend payments are an important part of the group's returns to shareholders and will keep the dividend policy under review with the aim of reinstating the payment of dividends at an affordable and sustainable level, once our strategic change programme gathers momentum and the group deleverages."

As of 1600 GMT, McColl's shares were down 12.06% at 37.90p.

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MCLS Market Data

Currency UK Pounds
Share Price 41.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 87.40
52 Week Low 15.50
Volume 1,127
Shares Issued 115.19m
Market Cap £47.23m

MCLS Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
75.84% above the market average75.84% above the market average75.84% above the market average75.84% above the market average75.84% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average
Price Trend
48.76% below the market average48.76% below the market average48.76% below the market average48.76% below the market average48.76% below the market average
84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average
Income
37.17% above the market average37.17% above the market average37.17% above the market average37.17% above the market average37.17% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
80.89% above the market average80.89% above the market average80.89% above the market average80.89% above the market average80.89% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MCLS Dividends

  Latest Previous
  Interim Final
Ex-Div 08-Aug-19 25-Apr-19
Paid 06-Sep-19 06-Jun-19
Amount 1.30p 0.60p

Trades for 09-Apr-2020

Time Volume / Share Price
08:02 1,127 @ 39.94p

MCLS Key Personnel

CEO Jonathan Miller
CFO Robbie Bell

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