Update: Acquisition bearing fruit
Another excellent set of results confirms La Doria’s strategy is on track: the group is delivering on its overarching objective to reduce the volatility of the business and improve visibility. The Pa.fi.al business is being fully integrated and continues to perform well. The hot summer in Italy resulted in fears of an abundant tomato processing campaign, hence we now forecast a fall in sales in 2016, although lower costs should mitigate the EBITDA impact.
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