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Jun 4 2019, 08:10 IST/BST
ARYZTA
Contrasting trends in Q3 update
DAVY VIEW
Sequential organic growth improvement reflects contrasting trends across core markets – outperformance in Europe, which was price/mix led, was offset by weakening volumetric trends in North America. The latter dynamic is likely to persist for a couple of quarters. Project Renew remains on track and continues to anchor our organic EBITDA growth assumptions. We do not envisage any material change our FY 2019 EBITDA forecast.
