Didn't revenue increase on PCP?
To me that indicates increased sales due to more stores.
Profit was about 10% lower than PCP, which from my assessment is a result of discounting and tighter margins, but in my view mainly due to increased finance costs as a result of the share buy back.
They paid half of their debt back over the past 6 months, and no doubt will pay the majority of the rest over the next 6 months leaving the savings in finance costs added back to the bottom line.
consolidation, page-6
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