Manutan International : FY results in line with our expectations - Neutral (vs Outperform) pending the opening of the offer
>Underlying operating profit at € 65.3m (vs € 67m est.), implying an underlying operating margin of 7.2% - Manutan International published yesterday evening full-year results broadly in line with our expectations. With € 906m in previously published FY revenues, the underlying operating profit came in at € 65.3m (vs. € 67m est.), implying an underlying operating margin of 7.2% (vs. 7.4% est.). Attributable net profit stood at € 50.8m (vs. € 50m est.). A dividend of € ...The Manutan Group is a retailer whose focus is on the multichannel distribution market, providing supplies and equipment for a businesses and local authority customer base. Co. mainly markets its products and services in 19 countries throughout Europe where it has operations, Africa, Asia and in the Middle East. Co.'s product offerings comprise over 200,000 items, covering products required by businesses for their materials handling, lifting, storage, industrial supplies, safety, hygiene, packaging, office and workshop furniture, supplies and consumables needs, as well as furniture for hotels and restaurants, and educational, healthcare and sport materials for local authorities.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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