Good value | End of the road? | Focus on cash collection
Results and updates covered here includes a positive update from a well-established sector leader, whose shares look cracking value to us. Another of our Bonkers Bargains opportunities also looks decent value, but we question the appeal of an automotive retailer given its performance to date.
Purplebricks: beginning of the end? Online estate agency Purplebricks (AIM: PURP) confirmed that it expects to have finished its financial year ended 30 April 2023 in line with previous management expectations - that was the good news! Instruction levels did not increase in the final quarter as previously anticipated, which is anticipated to primarily impact on revenue and EBITDA in the April 2024 financial year. In light of the Group's current financial position, the Group's payment processor for 'pay now' instructions has exercised its right to withhold a portion of remittances to the Group. This withholding and level of instructions…