During H1 FY23, Casino posted a strong show in LatAm, but the group’s profit was a disappointment once again. Management has cut the 2023 performance estimate further.
The new restructuring plan and the Consortium’s business plan for 2024-28 period are largely in line with the market’s expectations. We would not be surprised if the new financial projections are also not achieved. We maintain our bearish stock recommendation.
28 Jul 2023
Poor show continues in France; no major surprises in the restructuring plan!
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Poor show continues in France; no major surprises in the restructuring plan!
- Published:
28 Jul 2023 -
Author:
Nishant Choudhary -
Pages:
5
During H1 FY23, Casino posted a strong show in LatAm, but the group’s profit was a disappointment once again. Management has cut the 2023 performance estimate further.
The new restructuring plan and the Consortium’s business plan for 2024-28 period are largely in line with the market’s expectations. We would not be surprised if the new financial projections are also not achieved. We maintain our bearish stock recommendation.