Overall results are in-line with our expectations with a modest increase in the dividend. The trading outlook remains weak, with no change to trading trends expected in H1 FY16 and we expect consensus to move drift down to broadly our level (consensus currently c£405m revenues and PBT £110m vs N1Se £397m and PBT £105m). This would reflect a c2% underlying decline. The new chairman has signalled the board needs to be modernised, he will become CEO and a traditional non-exec chairman will be appoi ....
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Prelims, board structure change and strategic review
- Published:
19 Nov 2015 -
Author:
Johnathan Barrett -
Pages:
3
Overall results are in-line with our expectations with a modest increase in the dividend. The trading outlook remains weak, with no change to trading trends expected in H1 FY16 and we expect consensus to move drift down to broadly our level (consensus currently c£405m revenues and PBT £110m vs N1Se £397m and PBT £105m). This would reflect a c2% underlying decline. The new chairman has signalled the board needs to be modernised, he will become CEO and a traditional non-exec chairman will be appoi ....