Having juggled too many balls last year in what is now regarded as the year of heavy lifting, and impacted by a dire Aut/Win season, N Brown has thus far failed to deliver its ambitious growth plan. Forecast FY’16 PBT is 5% lower than FY’13, notably driven by lower EBIT margins (-160bps) contrasting a core objective of better margins. Despite the setback, though, we continue to support the strategy being implemented. Whilst not a catalyst for the shares, lead indicators reassured at the time of ....
24 Aug 2015
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N Brown Group plc (BWNG:LON) | 14.4 -0.1 (-4.0%) | Mkt Cap: 66.7m
- Published:
24 Aug 2015 -
Author:
Matthew McEachran -
Pages:
6
Having juggled too many balls last year in what is now regarded as the year of heavy lifting, and impacted by a dire Aut/Win season, N Brown has thus far failed to deliver its ambitious growth plan. Forecast FY’16 PBT is 5% lower than FY’13, notably driven by lower EBIT margins (-160bps) contrasting a core objective of better margins. Despite the setback, though, we continue to support the strategy being implemented. Whilst not a catalyst for the shares, lead indicators reassured at the time of ....