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Published on: January 20, 2022

Steady as she goes…

G4M’s Q3 trading update showed a continuation of the trends seen in H1, with a robust domestic market performance offset by ongoing short-term post-Brexit challenges in Europe. The latter are being addressed through scaling up the new distribution centres in Spain and the Republic of Ireland, with European revenues set to regain momentum in FY23E. With nine-month sales down c.9% against last year’s exceptional performance, G4M’s FY22E EBITDA remains in line with consensus expectations of £12.0m.

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