Sligro Food Group rises on continued earnings recovery

Sligro Food

21/07/2022 08:17

** Shares in Sligro Food Group  SLIGR.AS  rise around 2%
after the Dutch company reported a 43.3% y/y revenue increase
and returned to profit
    ** The group posts H1 EBITDA up at 65 mln euros ($66
million), while its net result swings to profit of 23 mln euros
    ** The company says the increase is a result of price hikes
and volume increases as COVID-related restrictions have been
lifted, and hospitality and events sectors resumed work
    ** "We do not expect that a recession or re-emergence of
COVID-19 will have a significant impact" on H2, Sligro's CEO
says
    ** KBC Securities says results came in above expectations,
while the message for H2 is positive 
    ** KBC however warns that "there is a possibility that
sentiment could turn again as the excess spending we currently
see in the leisure industry compared to the rest of the economy
normalizes"
    ** "We do however believe this risk is already somewhat
incorporated in Sligro's share price", it adds 


($1 = 0.9799 euros)

 (Reporting by Alizee Degorce)
 ((Alizee.degorce@thomsonreuters.com))