Cettire’s most compelling feature – its rocket ship-like earnings growth – has disappeared right when the equity market says it can least afford it.
It made $32.1 million in adjusted EBITDA in the nine months to March 31, and now says it will finish the financial year at $32 million to $35 million. The rocket ship has very obviously stalled.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
