Near-perfect; positive surprise on both revenue and margin Westlife's 1QFY19 earnings report is a testimony that the business is well-placed to deliver the targets that management had set for itself, viz. 7-9% comps every year and doubling of margin by 2022 (see our earlier report for details). The near double-digit margin delivery during the quarter (9.9% - up 431bps YoY) was a positive surprise to us, led by a more favourable demand environment, the successful revamp of its value platform and further scale-up of brand extensions that helped drive a 30% growth in revenue and more-thandoubling of EBITDA. We expect this strength to sustain in the coming quarters - earnings growth trajectory would accordingly remain strong and could help drive further stock...