The Group's FY23 expectations remain unchanged. The Group expects to deliver adjusted operating profit for the full year in line with previous guidance. The business continues to demonstrate operational and financial resilience, remaining well positioned to continue to progress towards its medium-term targets.
Trading update
In Q4, the Group saw a sequential improvement in performance compared to the previous quarter. Group revenue on a like-for-like1 ('LFL') and trading day adjusted basis declined -3.6% in Q4 2023, compared to the same period in the prior year, an improvement on the -7.1% decline reported in Q3 2023, as comparatives continued to ease after a strong H1 2022 performance.
EMEA saw an improvement in new order momentum in Q4, whilst continuing to experience market softening as previously guided, in line with changes to the macro-environment. The AMERS region saw trading stability quarter on quarter, and remains focused on the improvement in destocking trends within distributor end-market channels. The APAC business has continued to demonstrate a gradual recovery. Through a combination of disciplined and proactive initiatives taken through 2023, including effective sales pricing offsetting inflation, Group adjusted operating margins remain strong.
Central corporate costs, that were re-sized in H1 2023, continue to be well managed, and remain in line with previous guidance of approximately
Outlook
With a robust and differentiated business model, underpinned by its breadth of customers, end market categories and geographical diversification,
Commenting on today's announcement,
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