Strong H2 trading means full year EBITDA is expected to be ‘not less than £6m’, leading us to upgrade our adj PBT/EPS forecasts by 5%. Within this we note lower sales to China (CN), offset by stronger than expected performance in higher margin core markets, including the UK. We have reduced the CN sales mix in unchanged FY21/22 forecasts, with positive implications for earnings quality. Management hopes to resume exports in H1 and, should this be the case, forecast risk would be to the upside. E ....
01 Feb 2021
H2 trading ahead of market expectations
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H2 trading ahead of market expectations
Venture Life Group Plc (VLG:LON) | 42.2 0.7 4.3% | Mkt Cap: 53.4m
- Published:
01 Feb 2021 -
Author:
Matthew McEachran -
Pages:
3
Strong H2 trading means full year EBITDA is expected to be ‘not less than £6m’, leading us to upgrade our adj PBT/EPS forecasts by 5%. Within this we note lower sales to China (CN), offset by stronger than expected performance in higher margin core markets, including the UK. We have reduced the CN sales mix in unchanged FY21/22 forecasts, with positive implications for earnings quality. Management hopes to resume exports in H1 and, should this be the case, forecast risk would be to the upside. E ....