Redde’s pre-close update has indicated continued strong performance. We upgrade our FY15 forecasts again on positive case volumes and mix: +5% FY15 PBT. Cash generation remains a key attraction. With a cost light model and a strong net cash position, we see scope for organic growth and additional M&A to drive earnings and the dividend. With a 100% payout policy, the 6.2% FY16 yield remains attractive given opportunities. The FY15 yield is enhanced by a 1p special dividend from Autofocus.
29 Jun 2015
Strong Q4, +5% upgrade, 1p special dividend
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Strong Q4, +5% upgrade, 1p special dividend
Redde Northgate PLC (21W:FRA) | 0 0 0.0% | Mkt Cap: 498.3m
- Published:
29 Jun 2015 -
Author:
Andrew Watson -
Pages:
5
Redde’s pre-close update has indicated continued strong performance. We upgrade our FY15 forecasts again on positive case volumes and mix: +5% FY15 PBT. Cash generation remains a key attraction. With a cost light model and a strong net cash position, we see scope for organic growth and additional M&A to drive earnings and the dividend. With a 100% payout policy, the 6.2% FY16 yield remains attractive given opportunities. The FY15 yield is enhanced by a 1p special dividend from Autofocus.