PulluP (ex. Focus) Q4 revenue grew +12%, driven by solid back catalog sales. The group expects improvement in profitability in H2, but FY 24 EBITA is expected to be negative (including portfolio adjustment). Looking at next year, the group expects a growth in revenue supported by new game releases (Space Marine 2, Toxic Commando) and earnings rebound. Our estimates and valuation range are cut materially given a weaker FY 24 outlook and tough market conditions. Q4 sales supported by strong back ....