An already difficult trading backdrop in recent weeks, materially exacerbated by Toys “R” Us (accounting for c8% of CCT’s total sales) falling into Chapter 11 bankruptcy protection on September 18th, has caused our FY18 PBT expectations to fall by 28% to £10.5m (£14.5m), with a base knock-on effect to our FY19 PBT forecasts which are reduced by 19% to £12.5m (£15.5m). The deleverage effect of lower sales with little cost mitigation that can be impleme
