Following Brexit we see two new potential catalysts for HRG; FX translation and increased demand for its outsourcing services should UK economic activity slow. With an estimated 58% of revenues generated overseas we calculate that following the decline in sterling and by using current FX rates, HRG’s FY17 EBIT could be 7% higher than our current estimates resulting in EBIT growth of 12%. When combined with an ‘in-line’ 1QFY17 trading update the shares, which have actually de
29 Jul 2016
A beneficiary of Brexit
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A beneficiary of Brexit
Hogg Robinson Group (HRG:LON) | 0 0 0.0% | Mkt Cap: 383.3m
- Published:
29 Jul 2016 -
Author:
Andy Smith -
Pages:
11
Following Brexit we see two new potential catalysts for HRG; FX translation and increased demand for its outsourcing services should UK economic activity slow. With an estimated 58% of revenues generated overseas we calculate that following the decline in sterling and by using current FX rates, HRG’s FY17 EBIT could be 7% higher than our current estimates resulting in EBIT growth of 12%. When combined with an ‘in-line’ 1QFY17 trading update the shares, which have actually de