Interims on Tues are expected to reveal a c£2-3m PBT decline (c3-5%) to c£63m, driven mostly by a full period of WorldStores ownership (vs 5 weeks H1’17). Given the wide range of growth and integration initiatives underway, updates on progress will inform sentiment for H2 and into FY19. We see a lot of potential from these in the absence of any execution risk or phasing delays. Given sentiment towards the margin decline in H1 (which was mix driven), a detailed update on their expectation of grow ....