H1 sales beat help lift Sligro shares

Sligro Food

20/07/2023 12:23

** Dutch food services company Sligro  SLIGR.AS  delivered
on Thursday better-then-expected H1 sales, helping the shares
climb 4% to EUR 16.9 at 11:20 GMT
    ** "Sligro reported a solid set of results with 1H23
revenues in line with KBC estimates but 3.2% above CSS. This was
largely driven by Belgium, with Metro sales coming in well above
the budget," KBC notes
    ** Sligro, whose first-half sales jumped by 24.2% to 1.40
billion euros, said the integration of Metro's  B4B.DE 
activities in Belgium was progressing well and decided to pay an
interim dividend of EUR 0.30 per share in 2023
    ** KBC notes a miss on profitability but says it was driven 
by Metro start-up costs and recovery & write down costs related
to the SAP integration in Antwerp
    ** Shares are on track for a best day since January 2023
    

 (Reporting by Diana Mandiá)
 ((diana.mandiaalvarez@thomsonreuters.com))