UK's TheWorks rises on turnaround plans

Works co uk

24/01/2025 09:17

** Shares of British retailer TheWorks  WRKS.L  up 7% at 21p
    ** WRKS says it expects new strategy to deliver EBITDA
margin of at least 6% and sales in excess of 375 mln pounds
($465.2 mln) within five years
    ** Co's H1 FY25 EBITDA loss narrows to 2.8 mln pounds from
8.5 mln pounds a year ago
    ** Says it's on track to meet FY25 EBITDA expectations of
8.5 mln pounds
    ** Co ‍expects impact of 6.5 mln pounds FY26 from rise in
national minimum wages and employers' National Insurance
Contributions
    ** In 2024, stocks fell by 27.1%

($1 = 0.8065 pounds)

 (
 Reporting by Simone Lobo in Bengaluru)
 ((Simone.Lobo@thomsonreuters.com; +919920570373;))