Metro are making heaps at the moment. A 15% EBIT margin is pretty good for this type of industry. And the share price is currently a pretty good reflection of this performance (ie fairly priced)
It’s just that punters want them to make heaps more - pretty hard to do in a market that’s not growing with company considerable capacity issues.
They’ll do ok over time - punters just need to be realistic about what it’s worth.
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