Morgans Co-head of Research Alex Mees updates us following the results of DMP and LOV this February reporting season.

DMP disappointed the market with 1H23 EBIT that fell 5% short of our forecast and 7% short of consensus.

LOV reported NPAT 1% higher than our forecast. Sales growth was 45%, driven by store rollout and +12.5% LFL sales growth.

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