Warpaint’s 2017 results were in line with expectations on the back of a strong second half before an initial contribution from Retra. We now have forecasts for the combined group, which show both adj. PBT and dividends in line with our previous illustrative projections. Retra has integrated well and there is a positive group outlook statement. With the forecast strong cash generation, we expect debt to be repaid as well as supporting the uplift in dividend. We retain our 300p DCF-derive
25 Apr 2018
No changes to profit/dividend forecasts
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Warpaint London PLC (W7L:LON) | 430 43 2.4% | Mkt Cap: 332.2m
- Published:
25 Apr 2018 -
Author:
Richard Slape -
Pages:
12
Warpaint’s 2017 results were in line with expectations on the back of a strong second half before an initial contribution from Retra. We now have forecasts for the combined group, which show both adj. PBT and dividends in line with our previous illustrative projections. Retra has integrated well and there is a positive group outlook statement. With the forecast strong cash generation, we expect debt to be repaid as well as supporting the uplift in dividend. We retain our 300p DCF-derive