LONDON (dpa-AFX) - 3i Group plc. (III.L), a private equity and venture capital company, said that France, Belgium, Luxembourg and Poland have traded very strongly since the start of the year with sales and EBITDA materially ahead of budget and like for likes at least 25% ahead of 2020 for the first 10 weeks of the year.
The company noted that the lockdown situation across Europe remains fluid and Action's trading performance in 2021 continues to reflect restrictions in a number of countries.
All but 18 stores in France, and all stores in Belgium, Luxembourg, Austria and Poland are fully open and trading strongly while stores in the Netherlands, Germany and the Czech Republic are still operating under different forms of lockdown restrictions.
Current cash and liquidity at Action is at about 525 million euros and the business is on course to open a higher number of stores in the first-quarter of 2021 than the same period last year.
Copyright RTT News/dpa-AFX