Sprue’s H1 results were better than anticipated in April and in-line with July’s guidance. With battery warranty issue worries abating, which hampered sales in Germany in H1, we believe that the share price should recover significantly. The implied substantial improvement in H2 2016 profit (vs H1) helps to justify the maintenance of the FY2016 dividend and underpin our FY2017E forecasts. With potential (higher-margin) future sales upside from today’s software acquisition and
19 Sep 2016
In-line results, focus back on profit growth
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In-line results, focus back on profit growth
FireAngel Safety Technology Group plc (FA:LON) | 4.2 0 0.0% | Mkt Cap: 12.8m
- Published:
19 Sep 2016 -
Author:
Robert Sanders -
Pages:
8
Sprue’s H1 results were better than anticipated in April and in-line with July’s guidance. With battery warranty issue worries abating, which hampered sales in Germany in H1, we believe that the share price should recover significantly. The implied substantial improvement in H2 2016 profit (vs H1) helps to justify the maintenance of the FY2016 dividend and underpin our FY2017E forecasts. With potential (higher-margin) future sales upside from today’s software acquisition and