eve Sleep bounces higher as losses drop

By
0 mins. to read
eve Sleep bounces higher as losses drop
Master Investor Magazine

Master Investor Magazine 58Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

AIM-listed mattress manufacturer eve Sleep (LON:EVE) saw its share price increase by 8.21% to 2.11p (as of 15:45 GMT) as full-year EBITDA losses dropped by 43%. Revenues dropped as management said that they’d be focusing on reducing cash burn and improving profitability over short-term sales growth.

CEO James Sturrock commented: “We are delivering on our priorities of reducing losses and stemming cash burn as we prioritise profitability over sales growth at any cost. We continue to create award winning products to improve customer’s sleep wellness, as evidenced by our latest Which? Best Buy award for our premium hybrid mattress, while removing unprofitable sales and marketing.

We are well placed to make further significant progress in 2020, with a differentiated brand position, a broader product range than peers and ongoing improvements to the customer experience, supported by a lower cost base, a substantial cash balance and no debt“.

Take part in our poll

We are reviewing our communications and would value your feedback. Ideally, how often would you like to hear from us?


Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *