Further UK market weakness has resulted in another profit downgrade and Debenhams (DEB) moving more overtly into a defensive mode. Our 8/18 PBT forecast (pre-exceptionals) has been reduced by 29% to £34m. The company expects to be able to grow profit from its guided 8/18 level of £35-40m. But there is clearly above average uncertainty attaching to its forecasting because of its record in these matters and macro.
20 Jun 2018
Another downgrade
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Another downgrade
Debenhams (DEB:LON) | 0 0 (-1.1%) | Mkt Cap: 347.0m
- Published:
20 Jun 2018 -
Author:
Tony Shiret -
Pages:
8
Further UK market weakness has resulted in another profit downgrade and Debenhams (DEB) moving more overtly into a defensive mode. Our 8/18 PBT forecast (pre-exceptionals) has been reduced by 29% to £34m. The company expects to be able to grow profit from its guided 8/18 level of £35-40m. But there is clearly above average uncertainty attaching to its forecasting because of its record in these matters and macro.