MCCOLL’S RETAIL GROUP PLC (MCLS)

MCCOLL’S RETAIL GROUP PLC (MCLS)

Blog posts

Autonomy, FRC Meeting, Retailers and Brexit Legal Advice

The big news last Friday (30/11/2018) was that former CEO Mike Lynch has been charged with fraud in the USA over the accounts of Autonomy. That company was purchased by Hewlett Packard who promptly proceeded to write off most of the cost – see this blog post for more information: https://www.sharesoc.org/blog/regulations-and-law/belated-action-by-frc-re-autonomy/. As this was a UK company, are we anywhere nearer a hearing in the UK over the alleged “creative accounting” that took place at the company and the failure of the ...

McColls Retail Group – A Transformational Deal?

McColl’s Retail Group is a chain of 1,352 “convenience” and “newsagent” stores. After the market closed last night they announced the acquisition of 298 convenience stores from the Co-Op...

Rolls-Royce and Other AGMs

Yesterday I attended the Annual General Meeting of Rolls-Royce Plc - held at 11.00 in Nottingham (at a conference centre on the University Park). Why move the venue from London where it has been held since 2004? Probably to attract a more sympathetic audience of ex-employees I suspect. Shareholders in Rolls-Royce don't need to be told that this company is going through a rough patch. Profits in the last two years have been miniscule, the dividends have been cut and even revenue ...

AGM Reports

McColls Retail Group (MCLS) AGM Report 2016

Yesterday I attended the Annual General Meeting of McColls in Brentwood. Their head office seems to be a cluster of older buildings in the countryside. There were 4 ordinary shareholders attended, which one director said was twice last years. McColl's Retail Group is a chain of 1,352 "convenience" and "newsagent" stores. Revenue last year was £932 million with profits before tax of £21.1 million. The stores are either branded Martins or McColls which is somewhat odd (indeed in my local area there ...