FY17 results are ahead of forecasts reflecting a strong Q418 in a number of markets. We are not changing our FY18 EBIT forecast as a 4% upgrade is effectively neutralised by adoption of US$1.40 as the average rate assumption. The shares have moved sideways over the past year with the read over on US infrastructure spend in the US post Trump era priced into a relatively high PER. The reversal of FX trends has also eroded the prospect for upgrades that investors have become accustomed to in rec
07 Mar 2018
Strong trading absorbs FX headwind in FY18 forecasts
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Strong trading absorbs FX headwind in FY18 forecasts
Hill & Smith PLC (HILS:LON) | 1,900 380 1.1% | Mkt Cap: 1,527m
- Published:
07 Mar 2018 -
Author:
Ben Thefaut -
Pages:
4
FY17 results are ahead of forecasts reflecting a strong Q418 in a number of markets. We are not changing our FY18 EBIT forecast as a 4% upgrade is effectively neutralised by adoption of US$1.40 as the average rate assumption. The shares have moved sideways over the past year with the read over on US infrastructure spend in the US post Trump era priced into a relatively high PER. The reversal of FX trends has also eroded the prospect for upgrades that investors have become accustomed to in rec