We upgrade FY19 estimates on today’s trading update. Revenue increases 3.1% to £131m (prev. £127m) leading to an 18% increase in profit before tax to £5.3m (prev. £4.5m). The loss in FY18 increases to £8.5m due to timing as the improved run rate incurs additional costs prior to revenue and profit being recognised in FY19. Since the announcement (22nd October) of the five year non-compete with a party involved with Safeglaze, a business now in administration
17 Dec 2018
Progress in turnaround leads to upgrade in FY19
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Progress in turnaround leads to upgrade in FY19
- Published:
17 Dec 2018 -
Author:
Andy Hanson -
Pages:
7
We upgrade FY19 estimates on today’s trading update. Revenue increases 3.1% to £131m (prev. £127m) leading to an 18% increase in profit before tax to £5.3m (prev. £4.5m). The loss in FY18 increases to £8.5m due to timing as the improved run rate incurs additional costs prior to revenue and profit being recognised in FY19. Since the announcement (22nd October) of the five year non-compete with a party involved with Safeglaze, a business now in administration