The company has announced its pre-close trading update for the six months to September. The earlier reported weakness in underlying markets has continued into Q2 of FY 2020, with weakness across a number of markets, particularly automotive. As a result the Board reduces its guidance, with FY 2020 underlying PBT now expected to be about £22m. We downgrade to an adjusted PBT of £20.3m, which implies a 16.4% reduction on our previous forecast. We also reduce our price target from 270
21 Oct 2019
Trifast - Trading update – tough markets prompts downgrade
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Trifast - Trading update – tough markets prompts downgrade
Trifast plc (TRI:LON) | 77.2 0.7 1.2% | Mkt Cap: 105.1m
- Published:
21 Oct 2019 -
Author:
David Buxton -
Pages:
4
The company has announced its pre-close trading update for the six months to September. The earlier reported weakness in underlying markets has continued into Q2 of FY 2020, with weakness across a number of markets, particularly automotive. As a result the Board reduces its guidance, with FY 2020 underlying PBT now expected to be about £22m. We downgrade to an adjusted PBT of £20.3m, which implies a 16.4% reduction on our previous forecast. We also reduce our price target from 270