Good morning from Paul amp; Graham!
An energy support package for business was announced yesterday, which I've yet to go through in detail. The crux of it seems to be substantial reductions in gas amp; electricity prices for businesses, coming directly off their bills, for 6 months from 1 Oct 2022. That's clearly going to help. There's also talk of Stamp Duty, and other tax reductions in the pipeline. No doubt we'll get more detail in due course, and I'll keep my eyes peeled for what companies start saying about these changes in their forthcoming outlook comments.
Agenda -
We're looking at today's newsfeed, but also want to cover (today or tomorrow) 2 backlog items in particular:
Warpaint London (LON:W7L) - to follow.
Hostmore (LON:MORE) - oh dear, things are starting to look grim, I'm afraid. FY 12/2022 is now expected to be a (small) loss. Forecasts for a bounce in 2023 just don't look realistic to me, so I'm worried trading could deteriorate further, and the current -14% vs pre-pandemic revenue trend is worryingly weak. I'm now concerned about the high bank debt. Risk now looks high. Profuse apologies for how badly this has turned out, but the fundamentals have...
