Better days ahead for India's McDonald's operator, Investec says

Sapphire Foods India

05/04/2024 09:35

** Shares of Westlife Foodworld  WEST.NS , McDonald's
 MCD.N  India operator, up 0.4%; rose as much as 2.5% to session
high of 829.90 rupees
    ** Investec Equities says demand stabilized in Q4 - expects
same store sales growth (SSSG) to improve sequentially in
quarter
    ** Gross margins to expand by 22bps Q/Q, aided by benign
commodity costs - Investec
    ** Co's SSSG declined to 9% from 20% Y/Y in Q3, EBITDA
margins fell to 16% from 18%
    ** Investec keeps "buy", PT of 923 rupees
    ** Stock set for fourth consecutive session of gains; eyes
third straight week of gains
        ** WEST down 0.74% YTD; peers Jubilant FoodWorks
 JUBI.NS  and Devyani International  DEVY.NS  have fallen 18.8%
and 19.2%, respectively, while Sapphire Foods
 SAPI.NS  is up 7.7%
  
    
    


 (Reporting by Ashna Teresa Britto and Navamya Ganesh Acharya in
Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))