While Tricorn delivered adjusted profitability in the first half, spearheaded by improved trading in the USA, the trend of slower sales that started in September has accelerated. This has led to a reduced FY2016E sales forecast of £19.0m (£21.4m). With reduced costs we now forecast breakeven adj. EBIT and £0.3m adj. LBT (£0.3m PBT) for FY2016E. While we have also reduced forecasts for future years we maintain our 35p target price as we continue to believe that Tricorn
02 Dec 2015
Profit recovery hit as customers defer orders
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Profit recovery hit as customers defer orders
- Published:
02 Dec 2015 -
Author:
Robert Sanders -
Pages:
8
While Tricorn delivered adjusted profitability in the first half, spearheaded by improved trading in the USA, the trend of slower sales that started in September has accelerated. This has led to a reduced FY2016E sales forecast of £19.0m (£21.4m). With reduced costs we now forecast breakeven adj. EBIT and £0.3m adj. LBT (£0.3m PBT) for FY2016E. While we have also reduced forecasts for future years we maintain our 35p target price as we continue to believe that Tricorn