Sprue’s interim results were in line with the guidance in July’s trading update with adj. EBIT of £1.5m on sales of £26.0m. As a sign of management’s confidence, the interim dividend was maintained at 2.5p. We have made no changes to any of our forecasts other than assuming more cash will be tied up in working capital for FY2017 as Sprue prepares to transition away from Newell Brands. As the strategy in place to grow sales should lead to a geared increase in prof
25 Sep 2017
No changes to forecasts or target price
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FireAngel Safety Technology Group plc (FA:LON) | 4.2 0 0.0% | Mkt Cap: 12.8m
- Published:
25 Sep 2017 -
Author:
Robert Sanders -
Pages:
8
Sprue’s interim results were in line with the guidance in July’s trading update with adj. EBIT of £1.5m on sales of £26.0m. As a sign of management’s confidence, the interim dividend was maintained at 2.5p. We have made no changes to any of our forecasts other than assuming more cash will be tied up in working capital for FY2017 as Sprue prepares to transition away from Newell Brands. As the strategy in place to grow sales should lead to a geared increase in prof