Essential reading for retailers and suppliers in the home improvement market

More trouble ahead for Beale?

Published: 25 May 2007
After producing another set of 'disappointing' results, brokerage firm Seymour Pierce forecasts a £1m loss rather than a £0.25m profit for the embattled retailer.
Beale issued a trading update this morning saying that the 'challenging' retail environment means it will fall short of market expectations for the financial year ending November 3, 2007.

It now leaves shareholders without the prospect of an interim dividend.

'Evidently, H1 sales were -4.3% and H2 is unlikely to make much of this up,' Seymour Pierce adds in its research note.

Research analyst Richard Ratner says the statement adds to the retailers problems.

Beale requires scale, he says, however after years of underinvestment the banks are unlikely to finance the opening of more units.

'The only way out is a bid,' he concludes.

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