Conviviality (AIM:CVR) - plenty of red flags to concern shareholders!
Interim results from this wholesaler and distributor of alcoholic drinks resulted in a steep fall in its share price. However, we are puzzled why the results and outlook statement actually weren’t worse given the poor trading environment for many of its customers. With plenty of red flags in the results could there be trouble around the corner?
Trading updates from the leisure and hospitality sector have been generally poor over the past few months highlighting tough market conditions for all but a few. While Mitchells & Butler reassured with its recent trading update, Restaurant Group, which operates nearly 500 restaurants and pubs, continues to struggle and recently commented how the market has softened. Several smaller restaurant groups on AIM have also commented on weak trading across the dining out market. However, there…
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