M&S has reported lacklustre FY18 figures as expected. The transition phase is very tough and clouds will last at least in the short term. Further sales and profit declines are expected for FY2019. The group has proposed a share price of 185p for the new rights issue, which represents a 31.8% discount to the previous closing share price and -13.5% vs. our target price.
22 May 2019
A lacklustre FY2018 and a discounted rights issue offer
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A lacklustre FY2018 and a discounted rights issue offer
Marks and Spencer Group plc (MKS:LON) | 265 -2.1 (-0.3%) | Mkt Cap: 5,377m
- Published:
22 May 2019 -
Author:
Rim BEN SALAH -
Pages:
3
M&S has reported lacklustre FY18 figures as expected. The transition phase is very tough and clouds will last at least in the short term. Further sales and profit declines are expected for FY2019. The group has proposed a share price of 185p for the new rights issue, which represents a 31.8% discount to the previous closing share price and -13.5% vs. our target price.