The headline news associated with the pre-close H1 update is that strong trading at Crestchic, plus a positive order book, results in an upgrade to our estimates for FY21. Revenues improved by 22% at Group level to £19.6m (the highest level since H1 2014) and by 44% to £15.8m within Crestchic alone. The latter’s progress was led by sales into the data centre market but was widespread across several sectors. The outlook remains similarly impressive, particularly within Crestchic, and as a result we have increased our estimates, with adj. PBT rising to £2.5m (from £2.1m previously).
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Group hits strategic targets, our forecasts rise
- Published:
11 Aug 2021 -
Author:
Andy Edmond | David O’Brien -
Pages:
7
The headline news associated with the pre-close H1 update is that strong trading at Crestchic, plus a positive order book, results in an upgrade to our estimates for FY21. Revenues improved by 22% at Group level to £19.6m (the highest level since H1 2014) and by 44% to £15.8m within Crestchic alone. The latter’s progress was led by sales into the data centre market but was widespread across several sectors. The outlook remains similarly impressive, particularly within Crestchic, and as a result we have increased our estimates, with adj. PBT rising to £2.5m (from £2.1m previously).