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.
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!