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MBL Group

  • BY: Andrew Hore |
  • POSTED: 12/11/2017 |

MBL Group is looking into a potential breach of IT security. 

This has been investigated before but no breach was found. Some shareholders appear to believe that it requires further investigation. They also have concerns about the dilution of company assets.

Disappointing trading and one-off costs mean that MBL has lost money so far this year and it won‘t get much better in the second half. The cost base is being reduced.

The home entertainment division is well behind last year in terms of trading performance and the full year outturn is likely to be well behind last year. Increased competition has hit the garden and home division and revenues are expected to decline this year but margins are improving so profit may improve.

Anton Lane has been appointed as a non-executive director and there are plans to appoint an executive director. This follows the removal of Peter Palframan from the board at the AGM in September.

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