27 Apr 2017
N+1 Singer - Redde - Volume growth in H2 underpins FY17e outlook
Positive volume growth in H2 to date underpins our full year outlook. We leave forecasts unchanged. Redde continues to benefit from increased volumes from new and pre-existing insurer relationships. The shares trade on a 16x FY18e PER multiple – in our view, is not undemanding for an earnings stream backed by contractual partnerships with blue-chip insurers. A 6% dividend yield provides additional return.
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N+1 Singer - Redde - Volume growth in H2 underpins FY17e outlook
Redde Northgate PLC (21W:FRA) | 0 0 0.0% | Mkt Cap: 498.3m
- Published:
27 Apr 2017 -
Author:
Andrew Watson -
Pages:
4
Positive volume growth in H2 to date underpins our full year outlook. We leave forecasts unchanged. Redde continues to benefit from increased volumes from new and pre-existing insurer relationships. The shares trade on a 16x FY18e PER multiple – in our view, is not undemanding for an earnings stream backed by contractual partnerships with blue-chip insurers. A 6% dividend yield provides additional return.