FY16 earnings growth of 12% is in line with expectations as 15% profit growth within the Consumer division and a lower tax rate offset the Corporate headwind from the loss of consumer credit sector revenues. This headwind is now “through the system” and – whilst we have fine-tuned our FY17 forecasts – the group will progressively benefit from the underlying growth being generated from other areas of the Corporate business and sustained momentum in Consumer, where the g
14 Jun 2016
Research Comment
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Research Comment
- Published:
14 Jun 2016 -
Author:
Ben Thefaut -
Pages:
5
FY16 earnings growth of 12% is in line with expectations as 15% profit growth within the Consumer division and a lower tax rate offset the Corporate headwind from the loss of consumer credit sector revenues. This headwind is now “through the system” and – whilst we have fine-tuned our FY17 forecasts – the group will progressively benefit from the underlying growth being generated from other areas of the Corporate business and sustained momentum in Consumer, where the g