Teract plummets 25% after reporting net income of -40.8 million euros for the first half of 2023-24, compared with -132.5 million for the same period of 2022-23 'which included the exceptional effect of the cost of market access'.

The gardening, pet care and food retailer posted adjusted EBITDA of €7.3 million, on sales up 11.2% to €397.3 million (but down 2.3% on a comparable basis).

Against a backdrop of persistent macroeconomic tensions and uncertainties regarding their evolution, and without any further deterioration in the environment, Teract still forecasts annual sales for 2023-24 of 900-950 million euros.

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