Results were slightly ahead of our forecasts, reduced earlier in the year, due to known project delays at Levolux. Management has taken action to restore profitability with the integration of Solar Shading with Roofing operations together with other actions leading to annualised cost saving of £2m, which provides a decent bounce to profits in the current year. No change to forecasts. The shares remain on a lowly P/E rating of 5.1x, dropping to 4.6x in 2021. We maintain our 122p price ta
05 Sep 2019
Alumasc - Full-year results in line
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Alumasc - Full-year results in line
Alumasc Group plc (ALU:LON) | 172 0 0.0% | Mkt Cap: 62.3m
- Published:
05 Sep 2019 -
Author:
David Buxton -
Pages:
7
Results were slightly ahead of our forecasts, reduced earlier in the year, due to known project delays at Levolux. Management has taken action to restore profitability with the integration of Solar Shading with Roofing operations together with other actions leading to annualised cost saving of £2m, which provides a decent bounce to profits in the current year. No change to forecasts. The shares remain on a lowly P/E rating of 5.1x, dropping to 4.6x in 2021. We maintain our 122p price ta