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Mixed opinion on Eve Sleep despite revenue surge
Maiden half year results (13 Sep) from branded memory foam mattress business Eve Sleep (EVE:AIM) revealed 126% increase in revenue to £11.5m, as well as improving gross margins and news of sales growth acceleration in July and August.
While some commentators are unconvinced about its merits, stockbroker Peel Hunt has a ‘buy’ rating and 135p price target (versus current price of 95.5p). It expects Eve’s UK business to be profitable in 2018 ahead of a breakthrough into group-level profitability from 2019.