Hi, it's Paul here.

Loungers (LON:LGRS)

I have just published part 2 of my video review of the Loungers AIM Admission Document. Thank you for the kind comments on part 1.

Here is the link to part 2. It is 27 minutes long. I hope you find it useful/interesting. Please don't share that link publicly, as it's intended for Stockopedia subscribers, you after all are paying my (modest) fees.

Good news, it has recorded in high definition this time. So you can read everything clearly. If it's not clear, then go into settings, and you can increase the definition right up to 1080, how exciting! Then full screen it, and all is clear. The idea is you can then pause the video at any time, to inspect my notes on screen.

If people like my videos, then I'll make some more. If people like them, it's appreciated when people leave a thumbs up, as it indicates to me that it was worth the effort.

7-8 am quick views

Just realised I've got the hygienist, then the main man, so the morning will mainly be dentistry. 

Good luck with everything, I hope there aren't any profit warnings.

Main report, after 8am

Loungers (LON:LGRS)

Share price: 226p (up 2.5% today, at 11:19)
No. shares: 92.5m
Market cap: £209.1m

Trading statement

Loungers, the operator of 148 café / bar / restaurants across England and Wales which trade under the Lounge and Cosy Club brands, announces a trading update for the 52 weeks ended 21 April 2019.

As mentioned above, I recorded a video review of this company's AIM Admission Document, for Stockopedia readers only (please don't post the links anywhere else);

Part 1  (37 minutes, medium definition)

Part 2  (27 minutes, high definition)

My main findings from reviewing the Admission Document, are that;

  • It's a good business, growing strongly both in LFL sales, and from new site openings
  • This is a great time to be doing a roll-out, as there are plenty of good sites available at modest rents & with incentives (e.g. long rent-free period, and/or landlords contribution to fit-out costs, called a reverse premium)
  • However, it has far too much debt - the IPO only…

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