Tuesday’s trading update was positive and confirmed solid progress in retaining key accounts, alongside growth in the SME customer segment. We have updated our forecasts as below, with PBT upgrades of 10%, 9% and 8% respectively in the three forecast years. Whilst the Group continues to make progress in delivering its recovery plan, returns in line with the sector are, in our view, a long way off for Speedy (current operating margin forecast of 5% -7% across the forecast period vs. a Cal. ‘17 pe ....
09 Feb 2017
N+1 Singer - Speedy Hire - Forecast upgrades after a solid Q3 update
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N+1 Singer - Speedy Hire - Forecast upgrades after a solid Q3 update
Speedy Hire Plc (SDY:LON) | 25.2 0 0.0% | Mkt Cap: 116.3m
- Published:
09 Feb 2017 -
Author:
Greg Poulton -
Pages:
4
Tuesday’s trading update was positive and confirmed solid progress in retaining key accounts, alongside growth in the SME customer segment. We have updated our forecasts as below, with PBT upgrades of 10%, 9% and 8% respectively in the three forecast years. Whilst the Group continues to make progress in delivering its recovery plan, returns in line with the sector are, in our view, a long way off for Speedy (current operating margin forecast of 5% -7% across the forecast period vs. a Cal. ‘17 pe ....