Northbridge’s year end trading statement in our view presents the same picture as at the interims. Results for the year to December 2015 are expected to be substantially in-line with management’s expectations. Although the streamlined group is now better placed to take advantage of any upturn in oil markets, the statement stresses it is too early to predict when that might come in 2016. We have maintained our estimate of a small loss for FY 2016 and retain our Buy recommendation.<
04 Feb 2016
Streamlining continues amid weak markets
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Streamlining continues amid weak markets
- Published:
04 Feb 2016 -
Author:
Alastair Stewart -
Pages:
2
Northbridge’s year end trading statement in our view presents the same picture as at the interims. Results for the year to December 2015 are expected to be substantially in-line with management’s expectations. Although the streamlined group is now better placed to take advantage of any upturn in oil markets, the statement stresses it is too early to predict when that might come in 2016. We have maintained our estimate of a small loss for FY 2016 and retain our Buy recommendation.<