TFF: in a spin after profit warning
(CercleFinance.com) - TFF's shares were shaken in Paris on Thursday, as investors took profits on the former François Frères cooperage following the announcement of a more cautious outlook than expected.
At around noon, the stock fell by almost 10%, after having rebounded by almost 5% over the past month, making it the biggest decliner on the Paris market. The stock is now down 22% YTD.
On Wednesday evening, TFF published Q1 2024/25 sales that are down 3.3% to E121.5m, which the company says it already regards as a "transition" year.
The group explains that it was affected by a "very unfavourable" comp base effect following the "record" performance that had characterized post-Covid activity.
It also points to a "return to normal" in the alcoholic beverages market, in an uncertain economic context accompanied by unfavourable weather conditions.
Against this cautious backdrop, TFF warns that full-year sales could fall below E500m, below the targets set at the beginning of the year.
The company adds that profitability levels could also decline in this "occasionally unfavourable" environment.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
At around noon, the stock fell by almost 10%, after having rebounded by almost 5% over the past month, making it the biggest decliner on the Paris market. The stock is now down 22% YTD.
On Wednesday evening, TFF published Q1 2024/25 sales that are down 3.3% to E121.5m, which the company says it already regards as a "transition" year.
The group explains that it was affected by a "very unfavourable" comp base effect following the "record" performance that had characterized post-Covid activity.
It also points to a "return to normal" in the alcoholic beverages market, in an uncertain economic context accompanied by unfavourable weather conditions.
Against this cautious backdrop, TFF warns that full-year sales could fall below E500m, below the targets set at the beginning of the year.
The company adds that profitability levels could also decline in this "occasionally unfavourable" environment.
Copyright (c) 2024 CercleFinance.com. All rights reserved.