JM’s Q2 performance is better than our expectations. Strong top-line momentum was witnessed across all operating banners (lfl basis). The EBITDA margin has also improved slightly (vs a 10bp decline in Q1), resulting in flat profitability in H1 FY19. More details after the conference call but we expect to increase the financial estimates.
26 Jul 2019
First read: good performance continues in Q2
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First read: good performance continues in Q2
Jeronimo Martins, SGPS S.A. (JEM:FRA) | 0 0 0.5% | Mkt Cap: 11,076m
- Published:
26 Jul 2019 -
Author:
Nishant Choudhary -
Pages:
2
JM’s Q2 performance is better than our expectations. Strong top-line momentum was witnessed across all operating banners (lfl basis). The EBITDA margin has also improved slightly (vs a 10bp decline in Q1), resulting in flat profitability in H1 FY19. More details after the conference call but we expect to increase the financial estimates.