Edition:
India

Eve Sleep Says Early Stage Merger Talks With Simba Sleep Have Ended


Friday, 20 Sep 2019 

Sept 20 (Reuters) - eve Sleep plc ::CESSATION OF MERGER TALKS, TRADING UPDATE AND LIFTING OF SHARE SUSPENSION.CESSATION OF MERGER TALKS, TRADING UPDATE AND LIFTING OF SHARE SUSPENSION.BOARD OF EVE DECIDED THAT NOW IS NOT RIGHT TIME TO PURSUE POTENTIAL MERGER AND THAT IT IS MORE APPROPRIATE TO FOCUS ON EVE REBUILD PLAN.BOARD WILL CONTINUE TO SEEK FURTHER ACQUISITIVE GROWTH OPPORTUNITIES.EARLY STAGE MERGER TALKS WITH SIMBA SLEEP LTD HAVE ENDED.2019 REVENUES ARE NOW LIKELY TO BE IN RANGE OF £25M-£27M.ANTICIPATED THAT REDUCTION IN FY REVENUE EXPECTATIONS WILL HAVE SOME FLOW THROW TO EBITDA LOSS.SUBSTANTIAL REDUCTION YEAR-ON-YEAR IN H2 AND FOR FULL YEAR IS STILL EXPECTED FOR EBITDA LOSS.TRADING MORE CHALLENGING THAN PREVIOUSLY EXPECTED OWING TO UNCERTAIN ECONOMIC OUTLOOK, CONTINUING LOW LEVELS OF CONSUMER CONFIDENCE. 

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13 Dec 2019