Helios reported strong 2014 YOA results with a return on capacity of 15.50% vs. the previous estimate of 12.78%. This drives the 13% uplift in our FY2016E PBT Norm to £1.016m/7.9p EPS. The dividend rises to 4.5p (+29%) and the NAV Adj. rises to 193p. On the current share price this values Helios at 0.7x P/B Adj and a yield of 3.1%. We also raise 2017E PBT Norm 5% to £0.99m and increase the dividend to 3.2p (yield 2.2%). The NAV Adj rises to 194p. Helios has made another acquisitio
05 Apr 2017
2014 YOA drives PBT upgrade
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2014 YOA drives PBT upgrade
Helios Underwriting PLC (HUW:LON) | 155 0 0.0% | Mkt Cap: 115.9m
- Published:
05 Apr 2017 -
Author:
Joanna Parsons -
Pages:
7
Helios reported strong 2014 YOA results with a return on capacity of 15.50% vs. the previous estimate of 12.78%. This drives the 13% uplift in our FY2016E PBT Norm to £1.016m/7.9p EPS. The dividend rises to 4.5p (+29%) and the NAV Adj. rises to 193p. On the current share price this values Helios at 0.7x P/B Adj and a yield of 3.1%. We also raise 2017E PBT Norm 5% to £0.99m and increase the dividend to 3.2p (yield 2.2%). The NAV Adj rises to 194p. Helios has made another acquisitio