During FY 24, they were able to increase their underlying EBIT by 15 %, while their main chain (Universal Stores) had lfl sales of - 0.3 %.
That's a real performance given the inflation of their costs (cf compulsory wage increase).
One reason (during H1 24) was a large improvement of their gross margin (+ 80 bp).
Major positive sign for them in FY 24 is probably the return of a significant growth of lfl sales for Universal Stores chain : + 6.6 % during H2 24 (vs - 5.4 % during H1 24).
For the first time since the covid period.
Ann: FY24 Trading Update & Guidance, page-3
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