In a trading update last week, management guided to FY25 (March Y/E) being in-line with expectations and struck a confident tone about FY26 & FY27, underpinned by rising housing transactions. An improving market backdrop and continued strong execution of self-help initiatives has prompted us to upgrade our FY26 & FY27 sales & EBITDA forecasts by mid to high single digit. This marks the first upgrade in well over a year and could, in hindsight, prove to be a turning point for the company. BUY rei ....
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