The Q2 figures were a little disappointing. Both sales and profitability were hit heavier than expected by the pandemic. In particular, the higher than expected discounts and piling up of seasonal inventory will continue to put pressure on the margin. However, the trading trend since June is very encouraging, which confirms our confidence that the group is in a good position to benefit from the business recovery after the pandemic crisis is over.
30 Jul 2020
Trading improvement from June
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Trading improvement from June
The Q2 figures were a little disappointing. Both sales and profitability were hit heavier than expected by the pandemic. In particular, the higher than expected discounts and piling up of seasonal inventory will continue to put pressure on the margin. However, the trading trend since June is very encouraging, which confirms our confidence that the group is in a good position to benefit from the business recovery after the pandemic crisis is over.