Yowie Group - Regrouping and reprioritising, or a new path?

Following a period of excessive volatility in results from Yowie, there has been a change in management, with the resignations of the CEO and two founding board members. Global COO, Mark Schuessler, was promoted to CEO. Additionally, the company now expects flat revenues in FY18 after initially cutting its FY18 revenue growth rate to 17% from previous guidance of 55-70%. We see the second half of FY18 as a transition period, which should create the conditions for a renewed growth path in FY19 at a lower level than before.