Today’s positive trading update for FY2016 has led us to increase our PBT forecast to £4.5m from £3.9m and to nudge up our PBT forecasts for the next two years. The uplift is driven by TFP where we are encouraged that the recent heavy capital investment is beginning to deliver a payback. Indeed, our upgrades are on the back of increased operating margin assumptions in TFP. Ahead of the final results being reported in June 2016 we increase our DCF- derived TP to 800p from 750
11 Apr 2016
Strong TFP trading leads to upgrades
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Strong TFP trading leads to upgrades
James Cropper plc (CRPR:LON) | 260 13 2.0% | Mkt Cap: 24.8m
- Published:
11 Apr 2016 -
Author:
Robert Sanders -
Pages:
2
Today’s positive trading update for FY2016 has led us to increase our PBT forecast to £4.5m from £3.9m and to nudge up our PBT forecasts for the next two years. The uplift is driven by TFP where we are encouraged that the recent heavy capital investment is beginning to deliver a payback. Indeed, our upgrades are on the back of increased operating margin assumptions in TFP. Ahead of the final results being reported in June 2016 we increase our DCF- derived TP to 800p from 750