Yes and no - while sales are slightly down (due to FX which is uncontrollable, sales are up excl. fx changes) operational expenditure should also be down (promotional activity, less stores in UK). Key question is impact of FX on COGS. Still plenty of value at current prices IMO, especially if 1h profit is maintained. FX is key concern in the short term, shouldn't sway long term value.
Share price support has evaporated since going ex dividend but with so much resting on the Xmas& winter sales the performance is not too surprising. Kinda disappointed they're still just repeating past statements regarding the international opportunity.. I mean these are literally the same bullet points from old presentations.. would be interesting to hear from anyone present? Would actually be handy if KMD posted a video link on their website.
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