26 Apr 2018
Positive momentum continues, forecasts unch
Redde has released a brief trading statement at the conclusion of the key peak trading period. Strong trading momentum reported at the interims (1/3) has continued to date. This reaffirms earlier confidence in the outlook for the current year (Y/E June18). We leave our forecasts unchanged and will re-evaluate at the FY Pre-Close update in late June. We highlight an attractive 6.5%+ forward dividend yield and 14x PER, 10x EV/EBITDA multiples. On a 5% yield, Redde would trade at 240p.
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Positive momentum continues, forecasts unch
Redde Northgate PLC (21W:FRA) | 0 0 0.0% | Mkt Cap: 498.3m
- Published:
26 Apr 2018 -
Author:
Andrew Watson -
Pages:
3
Redde has released a brief trading statement at the conclusion of the key peak trading period. Strong trading momentum reported at the interims (1/3) has continued to date. This reaffirms earlier confidence in the outlook for the current year (Y/E June18). We leave our forecasts unchanged and will re-evaluate at the FY Pre-Close update in late June. We highlight an attractive 6.5%+ forward dividend yield and 14x PER, 10x EV/EBITDA multiples. On a 5% yield, Redde would trade at 240p.