FY15 was a difficult year and FY16 is unlikely to be any better. Our forecasts and Target Price remain under review, and we see little prospect of a rapid turnaround in the group’s fortunes. We retain our Sell recommendation.
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Prelims in line – outlook remains challenging
- Published:
23 Jun 2015 -
Author:
Elizabeth Klein -
Pages:
3
FY15 was a difficult year and FY16 is unlikely to be any better. Our forecasts and Target Price remain under review, and we see little prospect of a rapid turnaround in the group’s fortunes. We retain our Sell recommendation.