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Conviviality Posts Profit Warning Following 'Material Error' In Forecasts

Published on Mar 9 2018 10:58 AM in Drinks tagged: Trending Posts / UK / Conviviality / Bargain Booze / Paywall / Wine Rack

Conviviality Posts Profit Warning Following 'Material Error' In Forecasts

Convivality plc, the off-trade retailing business that operates franchises such as Bargain Booze, Bargain Booze Select Convenience and Wine Rack, has issued a profit warning after what it describes as a 'material error' in the financial forecasts for its Conviviality Direct business.

It said that it now expects adjusted EBITDA for the current year to 29 April, to be 'approximately 20% below current market expectations', of around £5.2 million.

It added that the previous guidance for net debt of around £150 million for the period remains unchanged.

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