The share price of home furnishings retailer Adairs performed strongly after it listed on the ASX in June, increasing from $2.57 to a high of $2.95 in mid-August. Since then, however, it has unravelled, despite delivering a 2014-15 net profit of $22 million, which was 6.2 per cent ahead of prospectus forecasts.

Analysts at Morgans CIMB said its performance in the 12 months to June 30, 2015 was hard to fault – it delivered like-for-like sales growth in the order of 21.6 per cent. The broker noted that a continuation of strong comparative sales in the latter part of the financial year suggested healthy momentum moving into 2015-16.