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Nov 10 2020, 06:45 GMT
The near-term demand environment across C&C’s core markets remains shaped by the cadence of the pandemic and the related policy response on trade and mobility restrictions. We have updated our forecasts to reflect a delayed revenue rebuild curve following recent lockdowns. Leverage in FY22 now peaks before rapidly de-gearing in FY23. The group has ample liquidity on hand. Post-hiatus, we expect C&C to re-intensify the execution of its growth strategy.