Studio Retail Group (STU)

Sector:

Retailers

Index:

FTSE Small Cap

228.00p
   
  • Change Today:
    -2.00p
  • 52 Week High: 260.00
  • 52 Week Low: 154.00
  • Currency: UK Pounds
  • Shares Issued: 86.44m
  • Volume: 34,507
  • Market Cap: £197.09m
  • RiskGrade: 143

Findel profits rise, driven by Studio

By Michele Maatouk

Date: Wednesday 05 Jun 2019

LONDON (ShareCast) - (Sharecast News) - Home shopping company Findel reported a jump in full-year profit and revenue on Wednesday, thanks in part to a solid performance form Studio, its online value retailer.
In the year to 29 March, pre-tax profit jumped 33% to £29.4m on revenue of £506.8m, up 5.7% from 2018.

Findel said Studio continued to drive the group performance, with strong growth in customer numbers, sales and profits. It added that Studio enjoyed a "particularly strong" trading performance in the run-up to Christmas.

The company also announced plans to change its name to Studio Retail Group.

Chief executive Phil Maudsley said: "These strong results reflect the clear transformation of the group into a digital-first, value led retailer.

"In particular, Studio has prospered in current market conditions. We have rapidly grown the active customer base to 1.9 million over the last three years, with new customers drawn to the incredible value we offer, while existing customers are shopping with us more frequently and across wider ranges.

"Our education business has also adopted a digital-first mentality with an objective to save schools time and money to win back customers and I am delighted with the progress that continues to be made."

Last month, Sports Direct's mandatory £139.2m offer for Findel lapsed after it failed to get the required level of support from shareholders.

Sports Direct offered to buy the group back in March after agreeing to purchase 6 million shares in the business from a single shareholder, City Financial Absolute. This took its holding in Findel to 36.8% from 29.9%, above the 30% mandatory offer threshold set by the Takeover Code.

Findel had been vocal in its rejection of the "highly opportunistic" offer, which it said "significantly" undervalued the group.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

STU Market Data

Currency UK Pounds
Share Price 228.00p
Change Today -2.00p
% Change -0.87 %
52 Week High 260.00
52 Week Low 154.00
Volume 34,507
Shares Issued 86.44m
Market Cap £197.09m
RiskGrade 143

STU Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
56.42% above the market average56.42% above the market average56.42% above the market average56.42% above the market average56.42% above the market average
59.26% above the sector average59.26% above the sector average59.26% above the sector average59.26% above the sector average59.26% above the sector average
Income Not Available
Growth
9.82% above the market average9.82% above the market average9.82% above the market average9.82% above the market average9.82% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average

What The Brokers Say

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

STU Dividends

No dividends found

Trades for 24-Feb-2020

Time Volume / Share Price
16:35 12,040 @ 228.00p
16:35 2,500 @ 228.00p
16:35 2,500 @ 228.00p
16:35 8,000 @ 228.00p
16:29 86 @ 230.00p

STU Key Personnel

CEO Philip Maudsley
CEO Roger Siddle
Chair Ian Burke
CFO Stuart Caldwell

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