Good morning, it’s Paul here.
Apologies, I ran out of time amp; mental bandwidth yesterday afternoon, and couldn’t finish the section on VP Group.
7-8am quick views
Card Factory (LON:CARD)
Q1 trading update
Card Factory, the UK’s leading specialist retailer of greeting cards, dressings and gifts, announces a trading update for the quarter ended 30 April 2019 to coincide with its Annual General Meeting to be held later today.
I reviewed the most recent accounts (FY 01/2019) here, concluding positively that this is a highly cash generative, good quality business, paying excellent amp; sustainable (in my view) high dividends. Stockopedia’s computers like it too – a high StockRank of 94.
Key points are self-explanatory;
Weak prior year comparator period – how refreshing to see a company be honest, and admit this in an RNS. This boosts my level of trust in management.
Total 979 stores – must be nearing saturation in the UK? Maybe not, as 50 new stores planned for this yearCardFactory.co.uk – good start to the year (no figures given)Getting Personal – still strugglingNet debt of £151.3m up 2.4% on a…
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