ECO delivered a strong revenue performance in H1, supported by growth in key markets. Margins were a little soft on transitory effects, which should reverse in H2 along with normal seasonal effects. Accordingly, we make no material change to forecasts. The company recently held a CMD showcasing the progress made with the group’s exciting pipeline of products in development. We continue to believe this will be a significant value driver in the years to come and reiterate our Buy recommendation and unchanged TP of 268p.
