We are upgrading our forecasts after the recent H1 update. Our PBT forecasts increase by 6% to £21.7m in FY18, and by 5% and 3% in FY19 and FY20. Our dividend forecasts increase in line with the PBT upgrades. Upgrades reflect strong H1 revenue growth (up 7.5% YoY exc. disposals) and further cost saving initiatives. Revenue growth was primarily driven by the lower margin, non-hire business. With this in mind, we are leaving our target price unchanged, whilst acknowledging the solid progress manag ....
02 Oct 2017
N+1 Singer - Speedy Hire - Forecasts upgraded after solid H1 update
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N+1 Singer - Speedy Hire - Forecasts upgraded after solid H1 update
Speedy Hire Plc (SDY:LON) | 23.8 0 0.0% | Mkt Cap: 109.9m
- Published:
02 Oct 2017 -
Author:
Greg Poulton -
Pages:
5
We are upgrading our forecasts after the recent H1 update. Our PBT forecasts increase by 6% to £21.7m in FY18, and by 5% and 3% in FY19 and FY20. Our dividend forecasts increase in line with the PBT upgrades. Upgrades reflect strong H1 revenue growth (up 7.5% YoY exc. disposals) and further cost saving initiatives. Revenue growth was primarily driven by the lower margin, non-hire business. With this in mind, we are leaving our target price unchanged, whilst acknowledging the solid progress manag ....