Last year’s tough economic and trading conditions have continued into FY25E and the company has warned that PBT will be 20% below current market expectations, mostly due to adverse economic and operating conditions, which impacted consumer spending. We have reduced our FY25E EPS (Dil. Adj.) forecasts in line with revised company guidance by c.20% to US$2.43c from US$3.03c and by c.25% to US$2.63c from US$3.50c for FY26E. Investors should remain focused on underlying growth of the business and th ....
