A reassuring update from St Ives provides confidence on delivering to our reduced FY17 forecasts as Strategic Marketing returns to good like for like growth and margins recover to targeted levels around 14%. Net debt is now coming down with property disposals thereby further distancing the balance sheet from covenant levels. Whilst the structural decline inherent in two of the three businesses ultimately requires a corporate solution, our numbers factor minimal returns from these businesses i
14 Jun 2017
Trading update
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Trading update
Kin and Carta Plc (KCT:LON) | 128 0 0.0% | Mkt Cap: 228.6m
- Published:
14 Jun 2017 -
Author:
Ben Thefaut -
Pages:
4
A reassuring update from St Ives provides confidence on delivering to our reduced FY17 forecasts as Strategic Marketing returns to good like for like growth and margins recover to targeted levels around 14%. Net debt is now coming down with property disposals thereby further distancing the balance sheet from covenant levels. Whilst the structural decline inherent in two of the three businesses ultimately requires a corporate solution, our numbers factor minimal returns from these businesses i