Tricorn delivered the forecast strong improvement in profitability in H1 2019 with adj. PBT up 49.5% to £0.6m on flat revenue of £11.4m. Transportation made up for an anticipated lower contribution from Energy. We maintain our FY2019 adj. PBT forecast at £1.2m but Tricorn now expects sales in H2 to be similar to H1 leading us to forecast £22.8m (vs £23.9m). From this lower base, we have adjusted our future forecasts but reiterate our 50p target price based on a &
05 Dec 2018
Improved profitability continues in H1
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Improved profitability continues in H1
- Published:
05 Dec 2018 -
Author:
Robert Sanders -
Pages:
8
Tricorn delivered the forecast strong improvement in profitability in H1 2019 with adj. PBT up 49.5% to £0.6m on flat revenue of £11.4m. Transportation made up for an anticipated lower contribution from Energy. We maintain our FY2019 adj. PBT forecast at £1.2m but Tricorn now expects sales in H2 to be similar to H1 leading us to forecast £22.8m (vs £23.9m). From this lower base, we have adjusted our future forecasts but reiterate our 50p target price based on a &