Results today are bang in line with expectations on an underlying profit basis (ex discontinued) and ahead at the EPS level courtesy of a lower tax charge. The dividend is ahead of consensus too. Net debt was £20m higher than forecast, mainly reflecting the decision not to complete specific sale & leasebacks - meaning the property asset backing is higher at c£290m (c73p/share). Core strategic initiatives are advancing well in all segments, and recent acquisitions have integrated well, performing ....
08 Mar 2017
N+1 Singer - Lookers - Positive results and confident outlook including capacity for M&A
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N+1 Singer - Lookers - Positive results and confident outlook including capacity for M&A
- Published:
08 Mar 2017 -
Author:
Matthew McEachran -
Pages:
3
Results today are bang in line with expectations on an underlying profit basis (ex discontinued) and ahead at the EPS level courtesy of a lower tax charge. The dividend is ahead of consensus too. Net debt was £20m higher than forecast, mainly reflecting the decision not to complete specific sale & leasebacks - meaning the property asset backing is higher at c£290m (c73p/share). Core strategic initiatives are advancing well in all segments, and recent acquisitions have integrated well, performing ....