Following good Q1 sales figures, Hansard has reported another good sales performance in Q2 that was ahead of our forecast. Sales in Q2 at £41.0m (+11%) PVNBP were 6% ahead of our forecast whilst H1 sales at £74.9m (+33%) were also well ahead. The new strategy continues deliver even though the comps have become considerably harder. In our view the shares remain very attractively priced trading at a 24% discount to our 2017F EEV NAV of 140p/share despite the 8.5% dividend yield. We
