Wed 11/23/2022 12:02 PM
Australia-based wine producer Accolade Wines returned to topline growth during its first quarter ended Sept. 30, although earnings continued to fall and missed budget estimates. Liquidity is improving, helped by disposals and scope for unwinding working capital, while the group expects financial year 2023 EBITDA to recover from the prior year’s slump, sources said. Net leverage remains elevated, which means Accolade could struggle to refinance its 2024/2025 maturities.
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