AmRest Q1 profit below expectations

WSE-listed restaurant operator AmRest posted a PLN 20.6 million attributable net profit in Q1, way below consensus expectations for PLN 40.6 million, mostly due to increased costs. Revenues amounted to PLN 1.14 billion, in line with expectations and 33.7 percent y/y increase, in line with preliminary figures. Q1 sales were boosted by taking over Starbucks…

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