Hydrogen has reported a reassuring set of interims providing support to our full year forecast. Net fees increased by 4% but as a result of the increased conversion rate of 12.1% (2018: 8.3%), the adj. PBT was up 51% to £1.9m. Net cash was £3.4m and underpins dividend growth of 20%. Given the shares have declined by 33% since the publication of a trading update in July, the interims are very encouraging as on an annualised basis the interim adj. PBT is ahead of our full year expec
03 Sep 2019
Adj. PBT and dividend up 51% and 20%
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Adj. PBT and dividend up 51% and 20%
- Published:
03 Sep 2019 -
Author:
Andy Smith -
Pages:
4
Hydrogen has reported a reassuring set of interims providing support to our full year forecast. Net fees increased by 4% but as a result of the increased conversion rate of 12.1% (2018: 8.3%), the adj. PBT was up 51% to £1.9m. Net cash was £3.4m and underpins dividend growth of 20%. Given the shares have declined by 33% since the publication of a trading update in July, the interims are very encouraging as on an annualised basis the interim adj. PBT is ahead of our full year expec