Produce Investments (PIL LN, BUY, T/P 210p) reported FY2016 preliminary results ahead of both our own and market expectations at the revenue level but with operating profits in line. Net revenue advanced to £185.1m from £178.4m in FY2015 – we were looking for £181.5m - while adjusted operating profits rose from £8.0m to £9.2m. Proposed full year dividend is 7.32p, a 2.2% gain on last year. The company is confident that despite challenging trading conditions
29 Sep 2016
FY2016 Profits in line despite modest revenue beat
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FY2016 Profits in line despite modest revenue beat
Produce Investments (PIL:LON) | 0 0 (-4.6%) | Mkt Cap: 44.6m
- Published:
29 Sep 2016 -
Author:
Chris Wickham -
Pages:
4
Produce Investments (PIL LN, BUY, T/P 210p) reported FY2016 preliminary results ahead of both our own and market expectations at the revenue level but with operating profits in line. Net revenue advanced to £185.1m from £178.4m in FY2015 – we were looking for £181.5m - while adjusted operating profits rose from £8.0m to £9.2m. Proposed full year dividend is 7.32p, a 2.2% gain on last year. The company is confident that despite challenging trading conditions