I'd go further and say its a good result given the guidance. As discussed earlier, they are falling over themselves to undersell the results, but there is a lot to like. Cash conversion was strong, balance sheet is strong, online sales and online outlook is strong, and once you add back the one offs (which are truly one offs in this case - not like the PSZ result posted today) the result was solid in a tough environment.
That said, wouldn't surprise me if the majority owner lobs another low ball bid shortly to try and pick up the rest of PGR on the cheap.
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I'd go further and say its a good result given the guidance. As...
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