Although FY25 EBITDA (Adj.) is in line with reduced management expectations, there are many positives to take away from this encouraging update: sales momentum has grown throughout the year, the new year has started well, the seven French sites have now finally converted to the Tortilla brand, and early trading is encouraging. We have left our forecasts unchanged but have increased our target price to 70p (was 50p) to reflect today’s news. The share price is up 50% since its recent mid-November ....
