Unbound Group's (UBG's) Q123 trading update to the end of April 2022 shows continuing strong momentum, in contrast to recent trends in the wider consumer space. Management's outlook for FY23 is unchanged despite the more challenging macroeconomic environment due to inflationary pressures. The company is making good progress with signing new partner brands to the Unbound platform, which should launch in July 2022. Our forecasts are unchanged ahead of the June publication of results for the 12 months ended January 2022 and do not reflect a recent property disposal that would help UBG's financial position (£1.75m). Our DCF-based valuation remains 165p per share.Den vollständigen Artikel lesen ...
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