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New premium listing: Seraphine

Although maternity wear supplier Seraphine Group operates its own shops, it is predominantly an online business. This is an international business covering more than 120 countries. Europe accounts for two-fifths of sales, the majority in the UK, and North America more than one-quarter.  

Management believes that growth can continue to be rapid. Medium-term online percentage growth rates are expected to be in mid-twenties, which is lower than previously but still impressive.

Seraphine plans to pay a dividend of between 20% and 40% of adjusted post-tax profit. There will be a final dividend for the year to 5 April 2022.

The share price started conditional dealings at 305p and subsequently fell back, opening at 280.05p when dealings were unconditional. The share price ended the...

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