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