Conviviality - shocking update highlights naivety of institutions and fairy tale of adjusted EBITDA!
Our original commentary from January suggested there were plenty of red flags to concern shareholders in this business. The latest trading update is an absolute shocker and supports many of our concerns. Large institutions that have backed this business need to display less naivety...….
Conviviality (AIM:CVR), which calls itself the ‘UK’s leading independent wholesaler and distributor of alcohol and impulse,’ an interesting term, has just issued an awful update on trading for the 52 week period ending 29 April 2018.
Following a review of current year projections, the Company now expects that adjusted EBITDA for the current year will be approximately 20% below current market expectations.
It’s worth highlighting that this is only the Fairy tale ‘adjusted EBITDA’, which we…
Previous article Next article
