Despite revenue headwinds (expected) and much lower capitalised development costs, Tribal reported an 88% improvement in adjusted EBIT, 8% ahead of our expectations. We upgrade our 2017 PBT and EPS by 6% and introduce 2018 and 2019 forecasts. With a clear strategy, restructured cost base, strong balance sheet and positive sales momentum, there is cause for optimism. Medium-term, we believe the group is capable of generating 15-20% EBIT margins which, coupled with top line momentum, should drive ....
30 Mar 2017
N+1 Singer - Tribal Group - 2016 delivered and more; future looking bright
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N+1 Singer - Tribal Group - 2016 delivered and more; future looking bright
Tribal Group plc (TRB:LON) | 44.0 0 0.0% | Mkt Cap: 93.5m
- Published:
30 Mar 2017 -
Author:
Tintin Stormont -
Pages:
9
Despite revenue headwinds (expected) and much lower capitalised development costs, Tribal reported an 88% improvement in adjusted EBIT, 8% ahead of our expectations. We upgrade our 2017 PBT and EPS by 6% and introduce 2018 and 2019 forecasts. With a clear strategy, restructured cost base, strong balance sheet and positive sales momentum, there is cause for optimism. Medium-term, we believe the group is capable of generating 15-20% EBIT margins which, coupled with top line momentum, should drive ....