PICARD - Q3 - Unchanged positive LFL sales trend and stable margins; aggressive dividend recap
Picard, the French frozen food retailer, has published its 3Q17/18 results (three months to end-December 2017). As a reminder, Picard issued last December €1.5bn of bonds to refinance its whole debt structure and fund distribution to shareholders (including the repayment of the €222m 11% PIK notes due 2020 which were issued outside of the restricted group).
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