There were no surprises in FY18 results. In FY19, we believe the company will be able to clock positive lfl and profitability is also likely to remain stable. Management’s strategy to open smaller format stores in less densely populated areas is a step in the right direction. No change to our stock recommendation.
01 Mar 2019
Good end to FY18
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Good end to FY18
Jeronimo Martins, SGPS S.A. (JEM:FRA) | 0 0 0.5% | Mkt Cap: 11,076m
- Published:
01 Mar 2019 -
Author:
Nishant Choudhary -
Pages:
3
There were no surprises in FY18 results. In FY19, we believe the company will be able to clock positive lfl and profitability is also likely to remain stable. Management’s strategy to open smaller format stores in less densely populated areas is a step in the right direction. No change to our stock recommendation.