Hostmore PLC (GB:MORE) has released an update.
Hostmore PLC reports a 10% drop in year-to-date like-for-like sales compared to 2023, but an improved EBITDA by £3.3 million for the first four months of 2024. The company also anticipates the peak of its net debt by the end of Q3, influenced by lower revenues and transaction fees from the pending all-share acquisition of TGI Fridays Inc. Hostmore confirms the final closure of two 63rd + 1st stores by June 30, 2024, with expectations to complete the TGI Fridays deal before the end of Q3 2024.
For further insights into GB:MORE stock, check out TipRanks’ Stock Analysis page.
