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Three Quick Facts: MADE.com, Joules and Begbies Traynor

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Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. MADE.com supply chain and discounting costs take toll

Lifestyle brand MADE.com (LON:MADE) has issued a Q2 trading update and has also provided revised guidance in light of the challenging macroeconomic outlook. Sales are down 19% from the first half a year ago, although up 55% from the pre-pandemic comparative. The note adds that profitability is set to be hit by around £20m for the full year as a result of discounting and increased supply chain costs, with the consequence that adjusted EBITDA is now forecast to be between -£50m and -£70m against previous forecasts of -£15m to -£35m. Even more troubling is the fact that year end net cash may now be as low as £5m, well down from the previously forecast worst case scenario of £40m.

#2. Joules cost-cutting sees profit outlook improve

There’s a trading update out from Joules (LON:JOUL) this morning which arguably offers shareholders some cause for optimism. The company notes that as a result of additional cost reductions, it expects full year profits to come in slightly ahead of current market expectations. Management add that trading continues to improve, with the first six weeks of the new financial year posting 8.5% growth and that a further £5m credit line has been secured with bankers.

#3. Begbies Traynor: bumper full year results

Insolvency specialists Begbies Traynor (LON:BEG) have published full year results to 30th April. Revenues are up 30% and pre-tax profits on an unadjusted basis have more than doubled. That’s ahead of market expectations and arguably illustrates the impact of government COVID support measures being withdrawn. Shareholders are set to be rewarded with a proposed 3.5p per share dividend, up from 3p a year ago.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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