FY results were marginally higher than our forecasts despite some challenging market conditions. Trading is currently on track to achieve our 2017 expectations. Considerable change has occurred over the past year, which should reposition the group to manufacture more effectively, with a focus now on rejuvenating sales growth. With a price target of 13p, the shares are trading at a deep discount and offer an attractive valuation.
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Full-year results – in line in a year of change
- Published:
01 Sep 2016 -
Author:
David Buxton -
Pages:
12
FY results were marginally higher than our forecasts despite some challenging market conditions. Trading is currently on track to achieve our 2017 expectations. Considerable change has occurred over the past year, which should reposition the group to manufacture more effectively, with a focus now on rejuvenating sales growth. With a price target of 13p, the shares are trading at a deep discount and offer an attractive valuation.