Good morning, it's Paul here with the SCVR for Weds.

Estimated timings - I'm now listening to the Creightons webinar (from noon), and cooking myself a cheese & mushroom omelette. So I'll get on to Arcontech (LON:ARC) after that. Should be finished by 2:30pm.
Today's report is now finished (14:24)

Today's agenda is;

Boohoo (LON:BOO) - my notes from chat with company last night

Cambria Automobiles (LON:CAMB) - Trading Update

Creightons (LON:CRL) - Preliminary Results

Arcontech (LON:ARC) - Final Results

As a reminder, I haven't got time to look at everything each day, so I tend to just select 4 or 5 of the more interesting companies, taking into account where possible reader requests. It's helpful when people post a comment explaining why a company is a good investment proposition, rather than just can you have a look at this, because I happen to own some shares in it!


Boohoo (LON:BOO)

I had an interesting chat with Boohoo (LON:BOO) last night. My thoughts here had come to their attention (yesterday's SCVR I assume), so we discussed the current situation. The key points were;

BOO adamant that it has done nothing wrong

Directors/family are exasperated & upset by their reputations being besmirched, and false allegations being thrown around (latest one is they've been falsely accused of people trafficking!) in newspapers & social media

Don't see it as their role to police the entire third party supply chain. Govts bring in minimum wage rules, so Govt's job to ensure compliance across all industries, including fashion sector. Suppliers are third parties, not owned or controlled by BOO. What about Jalal Kamani then? He left BOO some time ago, set up his own business, and is completely separate. Not a supplier. His company just re-packaged some BOO gear made in Morocco - see correction in The Times

If any suppliers are proven to be abusing rules, then they will be dropped

BOO has always been completely open about using UK suppliers. If they had anything to hide, then they wouldn't have told anyone!

Why do you use UK suppliers, when labour is so much cheaper abroad? Convenience, and it's fast. But UK production is relatively expensive, as labour cost so much higher

Competitors are buying garments made in Bangladesh…

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