Today’s key take-aways include a 5% PBT beat (mostly Greetz), strategic focus increasing on data/personalisation, group integration/closer brand alignment, and delivery as a competitive advantage with scope to enhance LTVs. Current trading is in line, and consensus aligns with simpler guidance. Having been range bound at 200-225p despite succession uncertainty being addressed and the CEO reassuring on plans being evolutionary, the shares should perform now.