Loungers (LGRS)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM 100

282.00p
   
  • Change Today:
    -2.00p
  • 52 Week High: 286.00p
  • 52 Week Low: 182.50p
  • Currency: UK Pounds
  • Shares Issued: 103.83m
  • Volume: 17,194
  • Market Cap: £292.80m
  • RiskGrade: 184

Loungers FY profits set to beat expectations following record sales

By Iain Gilbert

Date: Tuesday 26 Apr 2022

LONDON (ShareCast) - (Sharecast News) - Cafe and bar operator Loungers revealed on Tuesday that full-year profitability was now expected to be ahead of expectations after it saw record sales in the 52 weeks ended 17 April.
Loungers stated that although trading during December had been "subdued" as a result of the Covid-19 Omicron variant, it recovered strongly post-Christmas, allowing it to deliver record total revenues for the year of £237.3m.

The AIM-listed group, which opened a record 27 new sites during the year, also stated it had continued to deliver "a very strong" like-for-like sales performance of 22.1% over the 48 weeks to 17 April, with like-for-like sales in the second half rebounding "convincingly" post-Christmas.

As a result of Loungers' "strong performance" following the Christmas trading period, it now expects profitability for the financial year to be "slightly ahead" of market expectations.

Net debt on 17 April 2022 was £1.2m, excluding a further £1.4m of outstanding rent liabilities, leaving it with an underlying net debt position of £2.6m - a marked reduction when compared to the £44.9m reported on 18 April 2021.

Chief executive Nick Collins said: "We continued to deliver underlying, volume-driven like for like sales growth despite the uncertain consumer backdrop and we are well-positioned to increase share in the coming months through our new site opening programme and value for money offer.

"It has been a phenomenal effort from our team to open 27 fantastic new sites in what has at times been a difficult year. The new site pipeline is in excellent shape and we are optimistic as we look ahead to FY23."

As of 1030 BST, Loungers shares were up 4.80% at 257.80p.

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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.

 

Loungers Market Data

Currency UK Pounds
Share Price 282.00p
Change Today -2.00p
% Change -0.70 %
52 Week High 286.00p
52 Week Low 182.50p
Volume 17,194
Shares Issued 103.83m
Market Cap £292.80m
RiskGrade 184

Loungers Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
77.95% below the market average77.95% below the market average77.95% below the market average77.95% below the market average77.95% below the market average
76.92% below the sector average76.92% below the sector average76.92% below the sector average76.92% below the sector average76.92% below the sector average
Price Trend
87.24% above the market average87.24% above the market average87.24% above the market average87.24% above the market average87.24% above the market average
96.36% above the sector average96.36% above the sector average96.36% above the sector average96.36% above the sector average96.36% above the sector average
Income Not Available
Growth
10.63% above the market average10.63% above the market average10.63% above the market average10.63% above the market average10.63% above the market average
49.02% below the sector average49.02% below the sector average49.02% below the sector average49.02% below the sector average49.02% below the sector average

Loungers Dividends

No dividends found

Trades for 15-Jul-2024

Time Volume / Share Price
16:25 1,057 @ 283.60p
15:38 715 @ 281.90p
14:54 6,878 @ 281.30p
11:27 200 @ 282.00p
10:46 33 @ 282.00p

Loungers Key Personnel

CEO Nick Collins
CFO Stephen Marshall

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