Earnings growth of 15% in FY16 reflects UK organic revenue growth of 4.7%, which was enhanced on the bottom line by the natural operational leverage within the business. Whilst we are not changing our PBT forecasts further to the 8% upgrade in January 2017, we believe our estimates are conservative and that the sensitivity is on the upside. Recent management changes will allow a fresh look at efficiencies in the business and this should provide scope to further enhance returns medium term. On
07 Mar 2017
FY16 results
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FY16 results
Headlam Group plc (HEAD:LON) | 172 -0.9 (-0.3%) | Mkt Cap: 138.9m
- Published:
07 Mar 2017 -
Author:
Ben Thefaut -
Pages:
5
Earnings growth of 15% in FY16 reflects UK organic revenue growth of 4.7%, which was enhanced on the bottom line by the natural operational leverage within the business. Whilst we are not changing our PBT forecasts further to the 8% upgrade in January 2017, we believe our estimates are conservative and that the sensitivity is on the upside. Recent management changes will allow a fresh look at efficiencies in the business and this should provide scope to further enhance returns medium term. On