Alcoholic Update: TFF Group 6M results & Mercosur-EU Trade agreement
Disclaimer: This is not investment advice. PLEASE DO YOUR OWN RESEARCH !!!!
TFF Group 6M numbers
No matter how you put it, TFF Groups 6M release on January 7th was pretty bad.
Sales down ~-25%, net profit down -33%. The only positive aspect is that the operating leverage (i.e. how much more profit declines than sales) is surprisingly modest.
Last year for instance, a -9% decline in sales led to a -40% decline in profits as we can see in the respective report form last year:
value and opportunity 