However, even though the results were above expectations, BRL shares fell by as much as 6.6% with traders concerned about the company’s cash flow. But the cash flow problem was downplayed by Intersuisse’s analyst, Rosalie James, who said BRL typically had weak first-half cash flows as it crushed its vintage early, and this year’s weaker figure was to be expected following a larger than usual vintage.
“My view was that the result was a little bit better than expected…I just think we have a serious knee-jerk reaction,” James said.
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