Interims to September 2017 demonstrate that the goals needed to reassure the market have been delivered (cash flow and control of net debt from stable revenue and improving margins). The financials are now in order, with normalised and much improved working capital, and a completion of restatements delivered by a refreshed financial team. With evident control of the improved forecast net debt position demonstrating achievable net debt/EBITDA levels of below 1x by FY19E (which we believe would
29 Nov 2017
Cleansed and forward looking
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Cleansed and forward looking
- Published:
29 Nov 2017 -
Author:
Andrew Darley -
Pages:
16
Interims to September 2017 demonstrate that the goals needed to reassure the market have been delivered (cash flow and control of net debt from stable revenue and improving margins). The financials are now in order, with normalised and much improved working capital, and a completion of restatements delivered by a refreshed financial team. With evident control of the improved forecast net debt position demonstrating achievable net debt/EBITDA levels of below 1x by FY19E (which we believe would