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Eve Sleep sees risk in higher competition from high street re-openings

In a trading update, the bed maker said revenues for the four months to April were in line with expectations, including good trading in May

Eve Sleep PLC - Eve Sleep sees risk in higher competitions from high street reopenings

Eve Sleep PLC (LON:EVE) said it has benefitted from the lack of high street competition during the coronavirus pandemic lockdown, but added that next month’s stre re-openings pose a risk to its trading.

In a trading update, the bed maker said revenues for the four months to April were in line with expectations, including good trading in May.

READ: Eve Sleep confident in ability to cope with coronavirus after cost cutting

The group said its cash burn was £100,000 per month, while it ended April with £7.5mln in the bank.

New chief executive Cheryl Calverley, who replaced James Sturrock earlier this month, has beeb granted options to subscribe for 3mln shares over the next three years, Eve Sleep added.

Shares advanced 13% to 1.53p on Friday at the opening bell.

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Quick facts: Eve Sleep PLC

Price: 1.3485 GBX

AIM:EVE
Market: AIM
Market Cap: £3.67 m
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