Robinson has reported FY results for the year ending 31 December 2018 that are materially ahead of our expectations. 10% y-o-y revenue growth coupled with good control of overheads and lower interest charges than expected resulted in adjusted PBT 34.0% ahead of our expectations. Good business momentum results in significant upgrades to our FY2019 forecasts. Our sum-of-the-parts-based target remains 130p, highlighting the value on offer.
22 Mar 2019
Robinson - A package of upgrades for FY2019E
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Robinson - A package of upgrades for FY2019E
Robinson plc (RBN:LON) | 100 0 0.0% | Mkt Cap: 16.8m
- Published:
22 Mar 2019 -
Author:
Cavendish Research -
Pages:
9
Robinson has reported FY results for the year ending 31 December 2018 that are materially ahead of our expectations. 10% y-o-y revenue growth coupled with good control of overheads and lower interest charges than expected resulted in adjusted PBT 34.0% ahead of our expectations. Good business momentum results in significant upgrades to our FY2019 forecasts. Our sum-of-the-parts-based target remains 130p, highlighting the value on offer.