Interim results for Brighton Pier offer no surprises following a January trading update, and confirm the Group is on track to meet expectations for FY19E. Revenues of £16.5m are £0.5m ahead of H1’17, despite railway works impeding access to Brighton from London, and the reopening of Fez being delayed. We expect FY19E revenues of £32.1m, with Adj. PBT of £3.2m and EPS of 7.1p, rising to 9.0p in FY20E. At just 5.0x FY20E p/e and with a FCF yield of 11.7% we suggest
26 Mar 2019
Interim Results FY19
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Interim Results FY19
Brighton Pier Group Plc (PIER:LON) | 45.5 0 0.0% | Mkt Cap: 17.0m
- Published:
26 Mar 2019 -
Author:
James Bayliss -
Pages:
2
Interim results for Brighton Pier offer no surprises following a January trading update, and confirm the Group is on track to meet expectations for FY19E. Revenues of £16.5m are £0.5m ahead of H1’17, despite railway works impeding access to Brighton from London, and the reopening of Fez being delayed. We expect FY19E revenues of £32.1m, with Adj. PBT of £3.2m and EPS of 7.1p, rising to 9.0p in FY20E. At just 5.0x FY20E p/e and with a FCF yield of 11.7% we suggest