Sligro sees no recovery this year after H1 miss, shares fall
18/07/2024 08:28
** Shares in Dutch food services company Sligro Food Group
SLIGR.AS fall about 5% as it sees no indications pointing to a
recovery in consumer confidence and spending this year,
following a miss on H1 earnings
** The group's H1 revenue at 1.39 bln euros ($1.52 bln)
misses the consensus by about 2.8%, while EBITDA at 55 mln euros
is about 12.7% below, with net result swinging to loss of 1 mln
euros against the poll seeing a profit of 8 mln euros
** "Market developments and inflation are having a greater
impact than we had estimated," CEO Koen Slippens says, adding
the group heads for flat y/y annual EBITDA
** "Disappointing 1H24 results calls for consensus
downgrade", ING says
** The stock is heading for its biggest single-day drop in 9
months, if losses persist
** YTD, including Thursday's fall, Sligro shares have lost
about 18.7%
($1 = 0.9147 euros)
(Reporting by Piotr Lipinski)
((piotr.lipinski@tr.com))