Sligro Food Group N.V. : Short-term market focus to persist, but € 19 TP and Outperform maintained
>Okay 2023 results, but dividend cut not supporting the investment case - Sligro had already reported revenue on 4 January, and the group’s results generally came in better than we had forecast. Gross profit and other operating income were ahead of our expectations, while operating costs developed as expected, although supported by € 6m lower impairments than guided by Sligro. Management proposed not paying a final dividend, bringing the total dividend to € 0.30 in 20...Sligro Food Group NV is a company engaged in the food distribution industry, based in the Netherlands. It divides its business into two segments: Food Retail activities comprise around 130 full-service EMTE supermarkets with 30 operated by independent retailers; Food Service offers nationwide network of cash and carry and delivery service outlets serving large and small-scale hospitality, establishments, leisure facilities, volume users, company and other caterers, forecourt retailers, small and medium-sized enterprises, smaller retail businesses and the institutional market. The Company serves the institutional market trading under the name Van Hoeckel and the other segments of the market as Sligro. The Company's subsidiaries include CaterTechBV and Bejaco NV, including its subsidiaries JAVA BVBA and Freshtrans BVBA, jointly known as JAVA Foodservice.
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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