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Redeye is encouraged to see another solid quarter from Bong. Reported numbers beat our expectations across the board. Highlights include continued growth within Light Packaging, a robust recovery in gross margins and strong cash flow. Bong’s market outlook is however clouded by weaker order intake, challenges in the supply chain and cost inflation. We expect a general cool down in demand, but Bong now appears to be better able to manage the tough market conditions than before.
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