FY2017 results for the industrial services and rental group slightly beat our P&L expectations, with EBITDA slipping from £3.4m in FY2016 to £3.2m (est. £3.1m) and a pre-tax loss slight lower than forecast. The statement’s tone was more positive. We are not making material changes to FY2018 P&L estimates and have introduced a FY2019 estimate of break-even at pre-tax level. It has also negotiated more flexible banking facilities and an issue of bonds. After thre
12 Apr 2018
“Recovery in sight”
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“Recovery in sight”
- Published:
12 Apr 2018 -
Author:
Alastair Stewart -
Pages:
8
FY2017 results for the industrial services and rental group slightly beat our P&L expectations, with EBITDA slipping from £3.4m in FY2016 to £3.2m (est. £3.1m) and a pre-tax loss slight lower than forecast. The statement’s tone was more positive. We are not making material changes to FY2018 P&L estimates and have introduced a FY2019 estimate of break-even at pre-tax level. It has also negotiated more flexible banking facilities and an issue of bonds. After thre