FY results to September showed underlying PBT falling from £7.5m to £5.6m, but this narrowly beat our estimate of £5.5m, in what is a transformational period for the compliance and energy services group. A stronger than expected performance in Compliance and lower overheads offset a lower than anticipated result in Construction and, while cashflow was strong, the group has cut its dividend to retain capital for future growth. We have not materially changed our estimates, apa
23 Jan 2018
Compliance core offsets slow Construction
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Compliance core offsets slow Construction
- Published:
23 Jan 2018 -
Author:
Alastair Stewart -
Pages:
7
FY results to September showed underlying PBT falling from £7.5m to £5.6m, but this narrowly beat our estimate of £5.5m, in what is a transformational period for the compliance and energy services group. A stronger than expected performance in Compliance and lower overheads offset a lower than anticipated result in Construction and, while cashflow was strong, the group has cut its dividend to retain capital for future growth. We have not materially changed our estimates, apa