Mainly due to the continuing weak trading in UK buses there will be a shortfall in the FY2018 PBT relative to our forecast, now £2.8m vs £3.0m. However, due to the continuing strong trading in gaming and the remedial cost-cutting in UK buses we maintain our FY2019E and FY2020E PBT forecasts, despite lower revenue forecasts in both. Expected net cash of £6.5m was £1m ahead of our forecast. Our investment case of a strong recovery in profits on sales growth remains intac
29 Nov 2018
Positive gaming, weak buses
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Positive gaming, weak buses
Synectics PLC (SNX:LON) | 190 4.8 1.3% | Mkt Cap: 33.8m
- Published:
29 Nov 2018 -
Author:
Robert Sanders -
Pages:
2
Mainly due to the continuing weak trading in UK buses there will be a shortfall in the FY2018 PBT relative to our forecast, now £2.8m vs £3.0m. However, due to the continuing strong trading in gaming and the remedial cost-cutting in UK buses we maintain our FY2019E and FY2020E PBT forecasts, despite lower revenue forecasts in both. Expected net cash of £6.5m was £1m ahead of our forecast. Our investment case of a strong recovery in profits on sales growth remains intac