SII’s growth erodes in Q4 FY19 but remains very solid
SII posted a yoy organic growth (at CC/CS) of 11.6% in Q4 FY19. The compay’s i
SII’s organic growth eroded in H2 (+11.3%, vs. 14.1% in H1) but continues to be very solid. France slowed down but remains decent.
Poland, SII’s second largest geography was up by 27% (vs. +33% in Q1-Q3). Overall, the trend for Poland to continue eroding but remains at a very high level and suffers from a demanding comparison basis.
We have some concern about the other two important geographies of SII. Germany was down by 4% in
SII’s organic growth eroded in H2 FY19, across geographies but remained at good levels. Should we worry about the firm? We will keep on monitoring what is going on with SII.