Eclectic Bar Group (AIM:BAR) – shares take a dive, but is there value?
Shares in the AIM quoted operator of bars and nightclubs took a big dive after disappointing interim results and news that poor trading was likely to continue during the remainder of the financial year. With the shares tumbling more than 50% to all-time lows it looks like most have given up on this one. One for the bargain hunters perhaps?
For the 6 months to 31st December 2014 sales on continuing operations were up 11% at £12.3m, but company EBITDA on continuing operations before adjusting items was at £1.1m (2013: £1.3m).
The second quarter, which includes the important October period when students return to university, proved difficult. Reduced numbers of students, more competition being seen across a number of our sessions and venues, disappointing early trading for two of their new openings (Lola Lo…
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