The first half was positive; we upgraded in October and are upgrading again this morning driven primarily by efficiency gains in the Industrial division. Forecast EPS in FY17 rises by 11% and in FY18 by 7%. The efficiency driven margin improvement in Industrials is spectacular (from 6.7% to 9.3%) with more to come as Rorschach closes. The Healthcare pipeline is also strong and Euromed is integrating well. With ongoing strong momentum, we increase our target price in line with the upgrades to 33 ....
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N+1 Singer - Scapa Group - From strength to strength
- Published:
22 Nov 2016 -
Author:
Jon Lienard -
Pages:
6
The first half was positive; we upgraded in October and are upgrading again this morning driven primarily by efficiency gains in the Industrial division. Forecast EPS in FY17 rises by 11% and in FY18 by 7%. The efficiency driven margin improvement in Industrials is spectacular (from 6.7% to 9.3%) with more to come as Rorschach closes. The Healthcare pipeline is also strong and Euromed is integrating well. With ongoing strong momentum, we increase our target price in line with the upgrades to 33 ....