Sales reached US$3.7bn (-7% and flat at CER, with prices up 2% and volumes down 2%). The group indicated it targets to maintain its sales level of last year at CER while profits should benefit from the cost-cutting programme (US$300m in FY16) and lower raw material costs. It also aims to deliver a US$1bn free cash flow, partly on the release of working capital.
20 Apr 2016
Q1 trading statement: rather weak as expected
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Q1 trading statement: rather weak as expected
Sales reached US$3.7bn (-7% and flat at CER, with prices up 2% and volumes down 2%). The group indicated it targets to maintain its sales level of last year at CER while profits should benefit from the cost-cutting programme (US$300m in FY16) and lower raw material costs. It also aims to deliver a US$1bn free cash flow, partly on the release of working capital.