The interim accounts bear an unrealised FX charge which has led us to review our forecasts. This liability is now largely hedged and the recent strengthening of GBP/USD has reversed some of this loss. Net cash is lower due to the payment profile associated with a material contract won last year but this will unwind over the next two years. We see these items are speed humps and do not change our valuation of the stock.
30 Nov 2022
Cenkos: Shearwater Group Plc -- FX Charge
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Cenkos: Shearwater Group Plc -- FX Charge
Shearwater Group plc (SWG:LON) | 49.0 0 0.0% | Mkt Cap: 11.7m
- Published:
30 Nov 2022 -
Author:
Cavendish Research -
Pages:
7
The interim accounts bear an unrealised FX charge which has led us to review our forecasts. This liability is now largely hedged and the recent strengthening of GBP/USD has reversed some of this loss. Net cash is lower due to the payment profile associated with a material contract won last year but this will unwind over the next two years. We see these items are speed humps and do not change our valuation of the stock.