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“Our start into the year was stronger than expected, and we believe that our organic sales growth guidance is conservative at this point,” Mark Schneider said in a call on the group’s first-quarter sales.
“At the same time, inflationary pressures have increased a lot since then and in ways that were not foreseeable at that time. As a result of this change in context, our guidance range of 17% to 17.5% for the underlying trading operating profit margin has become more challenging than before when we described it as conservative,” he said.
