Civil Engineering has continued to see challenging markets and will now not be profitable this year; its viability is being reviewed by management. In addition raw material prices have remained higher than anticipated. B&I and I&T are performing well, while CTT is recovering; the Group will still make progress overall over last year but we have downgraded forecasts by c.7%. We reduce our target price to 75p and remain at Hold.
16 Oct 2017
N+1 Singer - Low & Bonar - Civil Engineering struggling
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N+1 Singer - Low & Bonar - Civil Engineering struggling
Civil Engineering has continued to see challenging markets and will now not be profitable this year; its viability is being reviewed by management. In addition raw material prices have remained higher than anticipated. B&I and I&T are performing well, while CTT is recovering; the Group will still make progress overall over last year but we have downgraded forecasts by c.7%. We reduce our target price to 75p and remain at Hold.