Sprue’s 2017 results are in line with the expectations in the January trading update, save for the £3.8m exceptional charge announced last week in the settlement with BRK. This mainly relates to an inventory write down/charge which has impacted cash flow and no final dividend has been declared. We have reinstated coverage with lower sales and profit forecasts than previously. However, with a strong product roadmap, we expect to see these recover in due course. We reinstate a Buy r
15 May 2018
Reinstated coverage – lower sales forecasts
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Reinstated coverage – lower sales forecasts
FireAngel Safety Technology Group plc (FA:LON) | 2.8 0 0.0% | Mkt Cap: 8.31m
- Published:
15 May 2018 -
Author:
Robert Sanders -
Pages:
8
Sprue’s 2017 results are in line with the expectations in the January trading update, save for the £3.8m exceptional charge announced last week in the settlement with BRK. This mainly relates to an inventory write down/charge which has impacted cash flow and no final dividend has been declared. We have reinstated coverage with lower sales and profit forecasts than previously. However, with a strong product roadmap, we expect to see these recover in due course. We reinstate a Buy r