Joules Plummets 36%, Just Eat Announce Sell In iFood, Made Group Report Record Sales Bookings: Morning Roundup

Dive into the top stories from London Listed Stocks on Friday…

Joules

  • Joules provided a trading update on Friday, stating trading has softened materially.
  • The recent warm and dry weather has adversely affected full price sales of core categories such as outerwear, rainwear, knitwear, and wellies.
  • Retail sales have consequently declined 8% year-on-year.
  • Active customer numbers now stand at over 2 million, which is a 10% increase from last year.
  • Joules has plummeted 36% this morning.

Just Eat Takeaway

  • Just Eat has entered into an agreement to sell its equity stake of approximately 33% in the iFood joint venture to Prosus N.V.
  • The valuation will be approximately €1.8 billion.
  • Just Eat will retain the transaction proceeds to maintain its balance sheet strength and to service repayments of its upcoming debt maturities.
  • Shares of Just Eat jumped 25.62% following the report.

Made Tech Group

  • Made Tech reported strong accelerating growth in FY22 with significant opportunities ahead.
  • The company reported revenue of £29.3 million, up 120% from the previous year.
  • Furthermore, adjusted EBITDA increased 618% to £2.6 million.
  • The group remains confident in its prospects for the current financial year after its record sales bookings.

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