The domestic market remains subdued, and raw material costs have been increasing. Centrale del Latte d’Italia (CLI) implemented some price increases on 1 April in order to offset some cost inflation, with full effect from 1 June. However, spot milk prices are starting to fall, both domestically and across Europe, so we expect a more benign cost environment during H217. We leave our forecasts unchanged and our fair value moves to €2.82 per share (from €2.85).
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
- Steady
Centrale del Latte d'Italia SpA (CLI:MIL) | 0 0 0.0%
- Published:
22 Jun 2017 -
Author:
Sara Welford -
Pages:
11
The domestic market remains subdued, and raw material costs have been increasing. Centrale del Latte d’Italia (CLI) implemented some price increases on 1 April in order to offset some cost inflation, with full effect from 1 June. However, spot milk prices are starting to fall, both domestically and across Europe, so we expect a more benign cost environment during H217. We leave our forecasts unchanged and our fair value moves to €2.82 per share (from €2.85).