We are encouraged that Tricorn expects adj. EBIT for FY2016E to be in line with our breakeven forecast, despite group revenue being £1m lower at £18.0m vs our £19.0m. We have reduced our adj. PBT forecasts for FY2017E and FY2018E on the back of reduced sales forecasts but we are encouraged that Tricorn is winning business and that it has other cost-saving initiatives to mprove profitability. We believe that Tricorn is capable of delivering a substantial uplift in profits in
12 Apr 2016
Still in profit but recovery deferred
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Still in profit but recovery deferred
- Published:
12 Apr 2016 -
Author:
Robert Sanders -
Pages:
2
We are encouraged that Tricorn expects adj. EBIT for FY2016E to be in line with our breakeven forecast, despite group revenue being £1m lower at £18.0m vs our £19.0m. We have reduced our adj. PBT forecasts for FY2017E and FY2018E on the back of reduced sales forecasts but we are encouraged that Tricorn is winning business and that it has other cost-saving initiatives to mprove profitability. We believe that Tricorn is capable of delivering a substantial uplift in profits in