ALSO Group hampered by supply constraints in modest FY22 results

Pan-European distribution giant ALSO Group posted its full year 2022 earnings which have been influenced by both positive and negative global trends.  Net sales (before PvA) grew modestly from €12.4bn to €12.6bn in FY22.  The company pointed the finger at the Chinese government's choice to abandon its zero-Covid policy leading to tension in region and impacting the availability of goods. Also called the supply chain in the country "unstable", adding that it has hit the Swiss firm's s...