Howden Joinery has been enjoying strong trading momentum in recovering markets and is developing a long term strategy for continued growth. In FY’15 PBT also benefited from favourable FX movements, with £/€ strength comfortably offsetting slight £/$ weakness. However, both rates have been on the slide recently. Already this means a c£8-9m headwind and some believe Sterling could slide further. After of a slight increase in LFL growth assumptions we have downgraded EPS forecasts by 1% today. We h ....
20 Jan 2016
Strengthening FX headwinds, downgrade to HOLD
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Strengthening FX headwinds, downgrade to HOLD
Howden Joinery Group PLC (HWDN:LON) | 906 123.2 1.5% | Mkt Cap: 4,969m
- Published:
20 Jan 2016 -
Author:
Matthew McEachran -
Pages:
3
Howden Joinery has been enjoying strong trading momentum in recovering markets and is developing a long term strategy for continued growth. In FY’15 PBT also benefited from favourable FX movements, with £/€ strength comfortably offsetting slight £/$ weakness. However, both rates have been on the slide recently. Already this means a c£8-9m headwind and some believe Sterling could slide further. After of a slight increase in LFL growth assumptions we have downgraded EPS forecasts by 1% today. We h ....