Marlowe has confirmed that trading for FY20E was in-line with market expectations. Whilst COVID-19 has meant that the company has been unable to enter certain sites, Marlowe expects this to largely be recovered once normal site access resumes, given the regulatory-driven nature of activities undertaken. The disposal of non-core assets is offset by EBITDA from recent bolt-ons. We reiterate our Buy recommendation.
01 Apr 2020
Cenkos: Marlowe Plc -- Positive trading update
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Cenkos: Marlowe Plc -- Positive trading update
Marlowe Plc (MRL:LON) | 512 0 0.0% | Mkt Cap: 495.7m
- Published:
01 Apr 2020 -
Author:
Peter Renton -
Pages:
6
Marlowe has confirmed that trading for FY20E was in-line with market expectations. Whilst COVID-19 has meant that the company has been unable to enter certain sites, Marlowe expects this to largely be recovered once normal site access resumes, given the regulatory-driven nature of activities undertaken. The disposal of non-core assets is offset by EBITDA from recent bolt-ons. We reiterate our Buy recommendation.