DZL | Dairibord Holdings FY20 Earnings Update; Volumes recovery in second half redeems top line
Demand in the first halfof FY20was dampened by restrictions on store operating hours given COVID-19 as well as inflation driven price increments. The supply side was hampered by forex shortages that impacted the group’s ability to source inputs, COVID-19 induced restrictions also disrupted transportation of product. The operating environment improved going into the second half as the lockdown was eased and the auction system paved the way for a more stable local currency...