The AIM-listed clothier said customer engagement on its online channels is “strong”, and demand is “ahead” of expectations set at the time of entering the lockdown.
The posh wellie maker said it continues to sell its products online following governmental guidelines to prevent the pandemic.
Net debt as at April 19 was £7mln with £43mln of available headroom, the group added.
Analysts at house broker Liberum moved the stock to ‘buy’ from ‘under review’ although they did not set a new target price.
“We estimate that this available headroom could trough at £38.4mln in June thereby still giving a high degree of comfort,” analysts commented.
Shares rose 7% to 80p on Tuesday at the opening bell.
–Adds shares, analyst’s comment–