Fri 04/14/2023 11:14 AM
Global resin-based consumer products group Keter got off to a strong start in 2023 as the fall in resin costs towards the end of last year flowed through to the bottom line, causing earnings to overshoot budget by 50% in the first two months despite continued topline pressure. However, free cash flow remained negative as a result of working capital build-up and higher interest rates, and Keter drew down its €102 million RCF in full during February, sources noted.
Sales came in at €119.2...
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