Rexel ended FY20 strongly with sales just down 0.7% in Q4, while clocking positive growth so far in Q1 FY2021. The group delivered results ahead of market expectations on most accounts including the resumption of a dividend at €0.46 per share. Credible growth strategy along with a promising medium-term outlook has sparked investor sentiment and strengthened confidence. We will raise our target price and estimates accordingly.
12 Feb 2021
Structural demand trends and promising outlook point to brighter days
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Structural demand trends and promising outlook point to brighter days
Rexel SA (RXL:PAR) | 0 0 (-0.6%) | Mkt Cap: 4,449m
- Published:
12 Feb 2021 -
Author:
Vansh Mehta -
Pages:
4
Rexel ended FY20 strongly with sales just down 0.7% in Q4, while clocking positive growth so far in Q1 FY2021. The group delivered results ahead of market expectations on most accounts including the resumption of a dividend at €0.46 per share. Credible growth strategy along with a promising medium-term outlook has sparked investor sentiment and strengthened confidence. We will raise our target price and estimates accordingly.