The Group achieved adj. PBT of £33.8m in H1. In the outlook statement, management notes a degree of caution around the level of disposal profits. We will therefore look to trim our PBT forecast by around 3% towards £71m. NB: This implies a downgrade of 5% on the consensus forecast of £74.4m. The implied H1/H2 PBT weighting is therefore 48%/52% (vs. 55%/45% historically). This still leaves a lot to do in H2 which includes the Christmas trading period. Whilst near term challenges remain we see pot ....
05 Dec 2017
N+1 Singer - Northgate - Caution around disposal profits, but attractively valued
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N+1 Singer - Northgate - Caution around disposal profits, but attractively valued
Redde Northgate PLC (REDD:LON) | 373 -5.6 (-0.4%) | Mkt Cap: 840.9m
- Published:
05 Dec 2017 -
Author:
Greg Poulton -
Pages:
3
The Group achieved adj. PBT of £33.8m in H1. In the outlook statement, management notes a degree of caution around the level of disposal profits. We will therefore look to trim our PBT forecast by around 3% towards £71m. NB: This implies a downgrade of 5% on the consensus forecast of £74.4m. The implied H1/H2 PBT weighting is therefore 48%/52% (vs. 55%/45% historically). This still leaves a lot to do in H2 which includes the Christmas trading period. Whilst near term challenges remain we see pot ....