Results reflect continuing difficulties in the underlying construction market, where Alumasc has seen some order and project deferrals but otherwise has gained from some new products and cross selling. The recent increase in the order book provides scope for a much better 2H profit. Nevertheless, the full-year is likely to generate a lower profit than previous expectations and we downgrade EPS by 18.5% for 2019 and 15% for 2020. As a result, we snip our price target by 165p to 139p, based on
31 Jan 2019
Alumasc - Interim results – continued subdued market conditions
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Alumasc - Interim results – continued subdued market conditions
Alumasc Group plc (ALU:LON) | 174 0 0.0% | Mkt Cap: 62.9m
- Published:
31 Jan 2019 -
Author:
David Buxton -
Pages:
6
Results reflect continuing difficulties in the underlying construction market, where Alumasc has seen some order and project deferrals but otherwise has gained from some new products and cross selling. The recent increase in the order book provides scope for a much better 2H profit. Nevertheless, the full-year is likely to generate a lower profit than previous expectations and we downgrade EPS by 18.5% for 2019 and 15% for 2020. As a result, we snip our price target by 165p to 139p, based on