FY16 results make positive reading reflecting the strength of a diversified model. Management has once again successfully executed strategic and growth initiatives to deliver strong sales and double-digit EPS growth. The 14.5% DPS uplift is a positive signal about prospects. In FY17 NICL will face higher cost pressures but has mitigating levers and good trading momentum to create further value. We keep our FY17/18 PBT forecasts unchanged but lift EPS by 1.4%/2.5% and see fair value at 1800p.
02 Mar 2017
N+1 Singer - Nichols - Strength & tenor of FY16 results supportive of premium rating
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N+1 Singer - Nichols - Strength & tenor of FY16 results supportive of premium rating
Nichols plc (NICL:LON) | 990 0 0.0% | Mkt Cap: 361.3m
- Published:
02 Mar 2017 -
Author:
Sahill Shan -
Pages:
5
FY16 results make positive reading reflecting the strength of a diversified model. Management has once again successfully executed strategic and growth initiatives to deliver strong sales and double-digit EPS growth. The 14.5% DPS uplift is a positive signal about prospects. In FY17 NICL will face higher cost pressures but has mitigating levers and good trading momentum to create further value. We keep our FY17/18 PBT forecasts unchanged but lift EPS by 1.4%/2.5% and see fair value at 1800p.