Headline PBT growth of 21.4% includes PLC costs and additional management resource to drive growth. On an underlying basis growth was over 30%, with no contribution from SG Smith which it acquired in Nov. Clear progress was made in all divisions, on both unit sales and margins/GPPU. Growth in its Leasing division was also strong which, at 30% of group PBT, is a differentiating growth characteristic vs. its peers. The group has a very conservative balance sheet and approaching c£150m of available ....
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Quality franchise mix, B/S and growth outlook for just 9x
- Published:
17 Mar 2016 -
Author:
Matthew McEachran -
Pages:
4
Headline PBT growth of 21.4% includes PLC costs and additional management resource to drive growth. On an underlying basis growth was over 30%, with no contribution from SG Smith which it acquired in Nov. Clear progress was made in all divisions, on both unit sales and margins/GPPU. Growth in its Leasing division was also strong which, at 30% of group PBT, is a differentiating growth characteristic vs. its peers. The group has a very conservative balance sheet and approaching c£150m of available ....