S&U’s year-end trading update signalled that FY20 results are set to be in line with management expectations. It is encouraging that there has been a post-election improvement in transactions at both Advantage and Aspen, while used-car prices have stabilised or increased recently. Our estimates are unchanged and the shares trade on a sub-10x P/E and yield of 5%.

12 Feb 2020
S&U - Encouraging year-end update

Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
S&U - Encouraging year-end update
S&U plc (SUS:LON) | 1,802 0 0.0% | Mkt Cap: 219.0m
- Published:
12 Feb 2020 -
Author:
Andrew Mitchell -
Pages:
5 -
S&U’s year-end trading update signalled that FY20 results are set to be in line with management expectations. It is encouraging that there has been a post-election improvement in transactions at both Advantage and Aspen, while used-car prices have stabilised or increased recently. Our estimates are unchanged and the shares trade on a sub-10x P/E and yield of 5%.