Retailer CCC rises most among Polish stocks after Q1 earnings beat

LPP SA

10/05/2024 08:24

** Shares in CCC  CCCP.WA  jump 18% to November 2021 highs
after the Polish footwear and fashion retailer's Q1 results came
in above expectations
    ** Q1 EBITDA came in at 304 million zlotys ($76.50 million),
above the 218 million consensus estimate cited by Erste Group
    ** While the results were boosted by the one-off gain from
sale of a warehouse "we must also appreciate" gross margin
rising by 5.1 pp and cost discipline, Erste Group analyst
Krzysztof Kawa says in a note
    ** "CCC 1Q24 PLN 304m of EBITDA accounts for 20.7% of our
yearly forecast in usually the weakest quarter of the year. It
bodes well for the realization of the latter or even gives room
for the outperformance," Kawa says
    ** If gains hold, the stock will see its best day since
November 2020; it is second-most traded stock on Warsaw Stock
Exchange after utility Tauron  TPE.WA  and rises the most among
Polish stocks
    ** Shares in discount retailer Pepco  PCOP.WA  and fashion
retailer LPP  LPPP.WA  rise 5% and 0.4%, respectively 
    


($1 = 3.9740 zlotys)

 (Reporting by Anna Pruchnicka)
 ((anna.pruchnicka@tr.com))