Poland's CCC hits over 5-year high on strong Q2 results, Q3 trading

Modivo SA

25/09/2024 09:49

** Shares in Polish footwear and fashion retailer CCC
 CCCP.WA  jump more than 9% to their highest price since July
2019, after it reported strong Q2 results and gave a positive
update on Q3 trading
    ** Q2 EBITDA in May-July rose 82% y/y to 406.9 mln zlotys
($106.9 mln) and revenue grew 7% to 2.59 bln zlotys, both
slightly above the company's own estimates
    ** For Q3, CCC says its sales revenue increased by 19% to
1.42 bln zlotys between Aug. 1 and Sept. 22
    ** It flags accelerating sales dynamics in Q3 so far, with
growth in September amounting to 28%
    ** "Part of the growth is attributable to the low base from
3Q24, but it seems that on top of that company also enjoyed
solid back to school sales as well as AW collection," says Erste
Group analyst Krzysztof Kawa, calling the Q3 data impressive
    ** Including Wednesday's rise, the stock has gained nearly
172% YTD​

($1 = 3.8074 zlotys)

 (Reporting by Julia Kotowska)
 ((julia.kotowska@thomsonreuters.com))