Lakehouse has announced the disposal of its profitable, but non-core Orchard energy consultancy, which we believe has the benefits of further focusing the group and significantly cutting net debt. It has reiterated FY17 guidance. Our forecasts for FY18 and FY19, by implication, need to be cut to reflect the disposal of the Orchard, which contributed £2.5m to PBT in FY16. The trading statement also announces a number of encouraging contract awards. We retain our Buy recommendation and 75
02 Oct 2017
Orchard sale sharpens focus and cuts debt
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Orchard sale sharpens focus and cuts debt
- Published:
02 Oct 2017 -
Author:
Alastair Stewart -
Pages:
4
Lakehouse has announced the disposal of its profitable, but non-core Orchard energy consultancy, which we believe has the benefits of further focusing the group and significantly cutting net debt. It has reiterated FY17 guidance. Our forecasts for FY18 and FY19, by implication, need to be cut to reflect the disposal of the Orchard, which contributed £2.5m to PBT in FY16. The trading statement also announces a number of encouraging contract awards. We retain our Buy recommendation and 75