27 November – trading statement
Yet another disappointing trading statement from the pawnbroking group has seen the share price plunge. Trading conditions have not improved since the last statement and the group is urgently reducing its cost base. The results for the year to June which were due to be announced this Friday have been postponed until 9 December and yet the group thinks market forecasts remain too high. In fairness most forecasts in the market had not really been changed since the last warning as brokers were waiting for the results before updating. Nevertheless, this is clearly still bad news for sentiment if nothing else and the shares must now be viewed as high risk. HOLD