An excellent set of results confirms the solidity of the Group’s portfolio, particularly as FY15 included a loss making Pipe Supports element (non-US) which is now to be exited. Visibility for FY16 and beyond remains positive and superior to most industrial peers, whilst the Pipe Supports restructuring gives a further benefit. We have upgraded our FY16 forecasts by 7% and foresee another good year for the Group with further forecast upside potential. Given the visibility, we increase our price t ....
