“We have had more benefit on the underlying margin in the first half of the year than on structural. And then the second half of the year, I expect it to be more even.”

In context

“the other drivers? John Murphy: Sure, Steve, thanks. So on gross margin, just to maybe highlight the big drivers typically our underlying performance any structural changes we have in the quarter, most of which nowadays as relates to our refranchising activity and then had a currency impact. So year-to-date, we're reflecting almost 200 basis points of increase. And that's primarily driven by structural and underlying with some offset on currency. And for the second half of the year, typically, the margin profile in the second half of the year is slightly lower than the first half. But I would say the overall trends in the second half of the year will be similar, to what we've seen in the first half. And maybe just to step it down on one - down to the operating margin line, not dissimilar. We have had more benefit on the underlying margin in the first half of the year than on structural. And then the second half of the year, I expect it to be more even. And yet, as we've discussed in prior calls, we sort of reserve the right to stay flexible in the event that we make investment decisions that linked to what's happening in our many markets around the world. But overall direction of travel on both the gross and operating line is our margin profile to be strengthening and to be pretty much in line with some of the previous conversations we've had on this topic. Operator: Our next question comes from Filippo Falorni from Citi. Please go ahead. Your line is open. Filippo Falorni: Hi, good morning everyone. I wanted to ask about the Latin America business. It continues to be a very strong driver of your total company growth with very strong unit case volume. Still very strong price mix. There was obviously some temporary impact with the floodi”