Redde has issued a brief pre-close update for FY17 (Y/E June) which indicates that performance in H2 has been positive with a sustained trading performance through Q4. FY17 results, when reported in September, are expected to be in line with our current estimates, which we leave unchanged. With sustainable earnings and opportunity for organic growth, we feel that the 15x FY18e PER is undemanding and 6.5%+ dividend yield offers an additional attraction.
29 Jun 2017
N+1 Singer - Redde - FY17 pre-close: in line, positive Q4 performance
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N+1 Singer - Redde - FY17 pre-close: in line, positive Q4 performance
Redde Northgate PLC (21W:FRA) | 0 0 0.0% | Mkt Cap: 498.3m
- Published:
29 Jun 2017 -
Author:
Andrew Watson -
Pages:
4
Redde has issued a brief pre-close update for FY17 (Y/E June) which indicates that performance in H2 has been positive with a sustained trading performance through Q4. FY17 results, when reported in September, are expected to be in line with our current estimates, which we leave unchanged. With sustainable earnings and opportunity for organic growth, we feel that the 15x FY18e PER is undemanding and 6.5%+ dividend yield offers an additional attraction.