Analyst Research Report Snapshot

Title:

MONCEAU FLEURS - A HIGHLY GEARED PROPOSITION

Price:

$10.00

Provider:

Edison Investment Research

Date:

17 Jun 2013

Pages:

2

Type:

AcrobatPDF

Companies referenced:

ALMFL.PA

Available for Immediate Download
Summary:

In a tough French retail market (Markit Research PMI has been consistently <50 reflecting contraction), discretionary purchases such as flowers have been badly hit, leading to a decline in sales of 17% in the year to September 2012, and a negative operating contribution of €2.5m. Even after financial restructuring in the year, gearing is still very high, with net debt at €20.5m (>400% market cap, and >110 equity).

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