Fashion group SMCP up after 'solid' progress on profitability
10/03/2022 08:38
** Shares in SMCP SMCP.PA rise over 6% after French
group's behind the Sandro fashion label profitability came in
ahead of expectations urn:newsml:reuters.com:*:nS8N2MH022
** Its adjusted EBIT margin reached 9.2% in 2021 compared to
0.8% in 2020, which according to Jefferies is about 200bps above
consensus
** "SMCP reported FY2021 sales which were in-line with
expectations but made solid progress on profitability driven
mainly by a reduction in the level of markdown in H2," Jefferies
says
(Reporting by Anait Miridzhanian)
((anait.miridzhanian@thomsonreuters.com))