Ceconomy up on 'solid' FY sales, EBIT seen in upper end of guidance
** Shares of German consumer electronics group Ceconomy CECG.DE are up 2.9% after it reported in-line preliminary sales for FY 2023/24 and said its adjusted EBIT would be towards the upper end of its guidance range of EUR 290-310 million
** It posts FY sales of EUR 22.4 billion ($24.2 billion), meeting its guidance and market expectations, says Baader Helvea which describes the result as "solid"
** Baader adds the specified earnings outlook implies adj. EBIT growth of more than 23%, which "would mean that our as well as market consensus expectations should be slightly exceeded"
** Up to the previous session's close, the shares were up 19.7% YTD
($1 = 0.9248 euros)
Reporting by Marianna Ciabach-Malinowska
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