Is this specialist chocolate and toffee maker a recession play? Chocolate is supposed to be counter-cyclical as consumers comfort eat their way through the misery...
- Share have more than halved in the past 12 months
- Trading seems to be holding up. In the 14 weeks to 4 October, the firm reported total sales of to £45.7m in line with forecasts.and an increase in like for like sales of 0.9%.New store openings and rising telephone and internet orders rose 7.6%, but corporate business declined.
- In the 52 weeks ended 28 June 2008, Profit before tax rose to £8.5m from £7.1m the year before (19.6% increase). Analysts had expected profits of around £8.2m. Revenue rose 11.9% to £208.1m after the retailer improved product lines and increased prices.
- The Chairman John von Spreckelsen has buying shares (he owns 1.1%)
Or is this wishful thinking for a specialty retailer?
http://www.reuters.com/article/rbssRetailDepartmentStores/idUSLA43588020080910
