FY16 results were ahead of expectations, particularly reflecting a strong performance in continental Europe where the group achieved double-digit organic growth. This provides good confidence on FY17 numbers and we are increasing our forecasts accordingly. Furthermore, the group is now in a position to reduce dividend cover, which provided for a 33% increase in DPS in FY16. Whilst the shares have performed well in recent months, our investment case view that the growth prospects and quality o ....