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Eve Sleep wakes up to soaring shares

by LLB Reporter
21st Jan 20 12:26 pm

Eve Sleep have been given a vote of confidence by investors as the company are to break even in 2020 sending shares up 20.5% by 0.4p to 2.35p.

The mattress company has balanced their books for the time despite revenue dropping by nearly 19% to £23.8m.

Chief executive James Sturrock said, “We are delivering on our priorities of reducing losses and stemming cash burn as we prioritise profitability over sales growth at any cost.”

Sturrock added, “We continue to create award-winning products … while removing unprofitable sales and marketing.

“We are well placed to make further significant progress in 2020, with a differentiated brand position, a broader product range than peers and ongoing improvements to the customer experience, supported by a lower cost base, a substantial cash balance and no debt.”

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