Sligro Food Group FY profit beat a positive surprise, shares rise

Sligro Food

03/02/2022 08:19

** Shares in Netherlands-based Sligro Food Group  SLIGR.AS 
rise more than 3% after its full year profit beat consensus
estimates 
    ** The group reported an EBITDA 109 million euros ($123.12
million), while net profit came in at 20 million euros, both
above company-complied consensus of 94 million and 9 million
euros respectively  urn:newsml:reuters.com:*:nFWN2UE0JV
    ** "Sligro was able to positively surprise on the
operational end (...), an increase that was largely driven by an
improvement in gross margins," KBC Securities said in a note
    ** The broker upgrades Sligro to "accumulate" from "hold"
given current upside potential 
    ** It expects Sligro's sales to return to pre-pandemic
levels in 2022 following as impacts from the Omicron variant are
less severe
    ** Share price is at it's highest in nearly 3 months


($1 = 0.8853 euros)

 (Reporting by Dagmarah Mackos)
 ((dagmarah.mackos@thomsonreuters.com))