TheWorks.Co.Uk (WRKS)

Sector:

Retailers

Index:

FTSE Fledgling

 26.05p
   
  • Change Today:
      0.000p
  • 52 Week High: 41.05
  • 52 Week Low: 21.80
  • Currency: UK Pounds
  • Shares Issued: 62.50m
  • Volume: 111,319
  • Market Cap: £16.28m
  • RiskGrade: 389

The Works trades ahead of plan after annual loss

By Sean Farrell

Date: Tuesday 20 Jul 2021

LONDON (ShareCast) - (Sharecast News) - TheWorks.co.uk said sales were ahead of plan in its new financial year as the retailer reported a £3.6m annual loss caused by Covid-19.
Adjusted pretax loss for the year to 2 May was £3.6m compared with a £2.4m profit a year earlier as revenue fell 19.7% to £180.7m. The group's statutory loss narrowed to £2.8m from £18m.

The seller of books, stationery and art products said the revenue drop was caused by store closures during the pandemic. When stores were open, like-for-like sales rose 6% and online sales rose 121% as the company and its customers shifted to digital purchases.

The Works announced no dividend and said it would review its payout policy in January 2023 with a view to resuming payments then. The company had 0.8m net cash at the end of the year compared with £7.1m bank debt a year earlier.

Like-for-like sales rose 13% in the 11 weeks to 18 July from two years earlier when results were not affected by the pandemic. Sales were driven by demand for jigsaws and art and craft products, which have been popular during the pandemic, the company said.

The company said it was monitoring the global freight system carefully amid supply backlogs affecting UK retailers and rising costs. So far the higher costs are covered by forecasts, it said.

The Works also said Dean Hoyle would step down as chairman at September's annual general meeting. Carolyn Bradley, a veteran retailer who worked at Tesco for 25 years, will replace Hoyle.

Hoyle said: "Trading since our stores reopened has been strong and we expect this early progress to continue. We are pleased with the performance since the beginning of the new financial year, which is ahead of our internal plan."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

TheWorks.Co.Uk Market Data

Currency UK Pounds
Share Price 26.05p
Change Today 0.000p
% Change 0.00 %
52 Week High 41.05
52 Week Low 21.80
Volume 111,319
Shares Issued 62.50m
Market Cap £16.28m
RiskGrade 389

TheWorks.Co.Uk Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.19% above the market average35.19% above the market average35.19% above the market average35.19% above the market average35.19% above the market average
5.26% below the sector average5.26% below the sector average5.26% below the sector average5.26% below the sector average5.26% below the sector average
Price Trend
58.63% below the market average58.63% below the market average58.63% below the market average58.63% below the market average58.63% below the market average
70.73% below the sector average70.73% below the sector average70.73% below the sector average70.73% below the sector average70.73% below the sector average
Income
78.56% above the market average78.56% above the market average78.56% above the market average78.56% above the market average78.56% above the market average
88.89% above the sector average88.89% above the sector average88.89% above the sector average88.89% above the sector average88.89% above the sector average
Growth
88.52% below the market average88.52% below the market average88.52% below the market average88.52% below the market average88.52% below the market average
65% below the sector average65% below the sector average65% below the sector average65% below the sector average65% below the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 1
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TheWorks.Co.Uk Dividends

  Latest Previous
  Final Final
Ex-Div 05-Oct-23 03-Nov-22
Paid 02-Nov-23 24-Nov-22
Amount 1.60p 2.40p

Trades for 28-Mar-2024

Time Volume / Share Price
15:55 50,000 @ 25.78p
15:40 8 @ 27.00p
15:40 36 @ 27.00p
15:40 5 @ 27.00p
12:37 40,000 @ 25.78p

TheWorks.Co.Uk Key Personnel

CEO Gavin Peck
CFO Rosie Fordham
Chair Carolyn Bradley

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