HLSE:ANORABeverage
Anora Group Oyj (HLSE:ANORA) Margin Rebuild Sharpens Despite Weak Sales
Traders had Anora Group Oyj almost perfectly marked at Friday’s close. The stock finished at €3.98, essentially flat compared with a discounted cash flow estimate of €14.74 and still on a rich P/E of 52.7x. The headline from these Q2 numbers is not the top line. It is the sharp improvement in profitability even as net sales slipped.
Gross margin moved to what management describes as the highest level in years and comparable earnings before interest, tax, depreciation and amortisation rose to...