Appreciate Group - Research - FY21 Trading Update
We have released an update following Appreciate Group's full year (to 31st March 2021) trading update. These results showed great resilience, with Corporate demand, digital sales, and restructurings working to offset some of the damage done by physical store closures and other COVID-driven restrictions. The result was billings down only 3.2% YoY and cash up slightly at the year-end - despite having fully repaid all funds received from the Jobs Retention Scheme. Management completed its business simplification this year with the sale of FMI, its brand engagement subsidiary, the cessation of hamper production, and the wind down of its contract packing and Republic of Ireland businesses. It is now focused on the more profitable core business, and is ready to benefit from a recovery in business and consumer confidence.
You can read more about it here.