Interims saw a decent profit recovery and place the group on track to achieve recently upgraded FY forecasts. We expect this year’s profits to be second half-weighted and EPS growth well above most industrials over the next two years, a mix of customer recovery, new contracts signed, good husbandry and acquisitive benefits. In this context, Avingtrans stands out against the peer groups and looks cheap on a 2017 P/E of 6.3x: well below its peers. Our 160p PT is based on a 2017 P/E of 9.0
17 Feb 2016
Interim results, profits recover
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Interim results, profits recover
Avingtrans plc (AVG:LON) | 405 0 0.0% | Mkt Cap: 134.0m
- Published:
17 Feb 2016 -
Author:
David Buxton -
Pages:
8
Interims saw a decent profit recovery and place the group on track to achieve recently upgraded FY forecasts. We expect this year’s profits to be second half-weighted and EPS growth well above most industrials over the next two years, a mix of customer recovery, new contracts signed, good husbandry and acquisitive benefits. In this context, Avingtrans stands out against the peer groups and looks cheap on a 2017 P/E of 6.3x: well below its peers. Our 160p PT is based on a 2017 P/E of 9.0