Given the profit headwinds from FX, the lower revenues on the Thames contracts and the significant investment in growth initiatives, we think the 19% increase in PBT in 2014 is highly creditable and confirms that the company’s strategy is delivering. Hydro has a wealth of growth opportunities and is continuing to invest heavily to realise these, which will create a larger business that is more diversified and more profitable. Given the good prospects and low valuation, the shares are ve
03 Mar 2015
Growth strategy delivering
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Growth strategy delivering
Given the profit headwinds from FX, the lower revenues on the Thames contracts and the significant investment in growth initiatives, we think the 19% increase in PBT in 2014 is highly creditable and confirms that the company’s strategy is delivering. Hydro has a wealth of growth opportunities and is continuing to invest heavily to realise these, which will create a larger business that is more diversified and more profitable. Given the good prospects and low valuation, the shares are ve