While FY17 results fell short of internal & external expectations, investment in EGL has produced encouraging KPIs, with online penetration at 63%, customer numbers +17% and clothing now 28% of sales. With FS modules launching this year, prospects from H2 on look bright. Forecasts have been reduced 8% due largely to Education, but a clear plan has been implemented to turnaround performance. New exceptionals are non-cash. Improved governance & disclosure should help progressive re-rating.
27 Jun 2017
N+1 Singer - Findel - Focused on establishing platform for growth
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N+1 Singer - Findel - Focused on establishing platform for growth
- Published:
27 Jun 2017 -
Author:
Matthew McEachran -
Pages:
6
While FY17 results fell short of internal & external expectations, investment in EGL has produced encouraging KPIs, with online penetration at 63%, customer numbers +17% and clothing now 28% of sales. With FS modules launching this year, prospects from H2 on look bright. Forecasts have been reduced 8% due largely to Education, but a clear plan has been implemented to turnaround performance. New exceptionals are non-cash. Improved governance & disclosure should help progressive re-rating.