Good morning, it's just Paul here with the SCVR for Friday, thankfully a quieter day for news, in a very busy week.

Today's report is now finished, because it's quiet, and I want to spend the afternoon visiting the Malta At War Museum!

Agenda -

Paul's Section:

Fulham Shore (LON:FUL) - a positive trading update, with recent sales showing a strong trend. Ambitious expansion plans are underway. Shares look pricey, but that reflects the growth in the pipeline, with many new sites being offered by landlords on attractive terms, hence an excellent time to be expanding.

Mothercare (LON:MTC) (I hold) - a strangely worded trading update, but seems to be saying that trading is improving. Remember it's a franchise businss now, so much simpler. However, the pension scheme deficit recovery schedule looks set to absorb all the profit & cashflow. Hence it's questionable whether the equity has an value at all?



Explanatory notes -

A quick reminder that we don’t recommend any stocks. We aim to cover trading updates & results of the day and offer our opinions on them as possible candidates for further research if they interest you. Our opinions will sometimes turn out to be right, and sometimes wrong, because it's anybody's guess what direction market sentiment will take & nobody can predict the future with certainty.

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Paul's Section

Fulham Shore (LON:FUL)

18.15p (last night’s close) - mkt cap £113m

Jack published an excellent, and thorough review of the FY 03/2021 results from this casual dining chain(s), here in August. I’ve just read that, to get up to speed.

Trading Update

Accelerating momentum and continued expansion

Revenue growth is accelerating, which is clearly good news -

Since the Group's Final Results announced on 17th August 2021 Group revenues have continued to grow. In the three completed weeks since…

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