In today’s briefing:
- Sarimelati Kencana PT (PZZA IJ) – Emerging from the Oven
Sarimelati Kencana PT (PZZA IJ) – Emerging from the Oven
- Sarimelati Kencana PT (PZZA IJ) has been hard hit over the last year by the impact of the boycott due to a perception of its Israel exposure.
- The company has focused on reducing its cost base over the past year and continued to build its higher-end Ristorante format, with the boycott impact lessening since June 2024.
- PZZA management maintains that it can hit profitability in 4Q2024, with this momentum continuing into 2025, with a target to increase its new formats helping to drive recovery.
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