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Feb 15 2019, 06:30 GMT
Despite ongoing inflationary pressures and a tepid demand environment, we expect ARYZTA to reiterate FY guidance on March 12th (Davy model weighted to H2). The equity contract contains no silver bullet: a multi-year turnaround requires a multi-faceted organisational rebuild (underway) and a material uplift in operating productivity. Clarity over the group’s strategic direction is now in place. The equity will sensitise around the success or failure of Project Renew.
Feb 15 2019, 06:30 GMT