Dr Martens PLC H1 24 – 30/11 – hasn't performed well so far year to date.
The markets stuck the boot in in January after the company issued a profits warning, with the shares slowly drifting lower over the course of the rest of this year, falling to new record lows earlier this month.
The bootmaker blamed supply chain issues in its US operation which it said reduce wholesale revenues by £15m-£25m, and EBITDA by around £20m.
For the full year the company says it expects to see EBITDA in the region of between £250m and £260m below estimates of £285m. In June the company reported full year revenues of £1bn, however net profits fell short of the £140m estimate, coming in at £128.9m.
This was due to a £3.9m impairment charge, as well as a £10.7m hit in relation to FX effects on euro bank debt
Looking forward their sole concern now is resolving supply chains issues and reversing the decline in profitability. H1 revenues are forecast to come in at £414m, with a stronger performance expected in H2. H1 adjusted EBITDA is expected to come in at £62.8m.
