This is a disappointing update with further problems at Gatwick leading to group forecast downgrades of c.7% to 8%. We said in August that Aviation needed a sustained period without significant issues to fully restore investor confidence and clearly we are going to have to wait a bit longer for that. Distribution is performing well but will have to mitigate the cost of the National Living Wage in coming years. We place our target price and recommendation under review.
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Aviation below expectations
- Published:
24 Nov 2015 -
Author:
Jon Lienard -
Pages:
3
This is a disappointing update with further problems at Gatwick leading to group forecast downgrades of c.7% to 8%. We said in August that Aviation needed a sustained period without significant issues to fully restore investor confidence and clearly we are going to have to wait a bit longer for that. Distribution is performing well but will have to mitigate the cost of the National Living Wage in coming years. We place our target price and recommendation under review.