We have reduced our FY18 earnings estimates to reflect a difficult start to the year and taking a more cautionary stance on the UK retail environment in 2018; our revised forecasts now assume a 2.0% decline in organic revenues in the UK in FY18. The tangible benefit of self-help measures to boost gross returns and a more active acquisition strategy on the back of the strong balance sheet will drive operational leverage when trading conditions firm. However, we expect reduced expectations will
06 Mar 2018
FY17 in line but weak start to FY18
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FY17 in line but weak start to FY18
Headlam Group plc (HEAD:LON) | 176 9.7 3.2% | Mkt Cap: 142.6m
- Published:
06 Mar 2018 -
Author:
Ben Thefaut -
Pages:
5
We have reduced our FY18 earnings estimates to reflect a difficult start to the year and taking a more cautionary stance on the UK retail environment in 2018; our revised forecasts now assume a 2.0% decline in organic revenues in the UK in FY18. The tangible benefit of self-help measures to boost gross returns and a more active acquisition strategy on the back of the strong balance sheet will drive operational leverage when trading conditions firm. However, we expect reduced expectations will