Tue 09/13/2022 07:34 AM
Biscuit International’s earnings turned negative in the second quarter as raw material price inflation continued to crush the France-based private label biscuit producer’s margins. As a result, the group started burning cash, halving its cash balance over the quarter, while net leverage hit double-digits, constraining its access to its RCF, which means liquidity could get tight in the second half, sources told Reorg.
Sales grew to €237.1 million during the second quarter from...
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