2019 proved successful on several measures, not least organic revenue growth, cash generation, the performance of the Baltic operations and the turnaround of Benfleet. That said, management is likely to be glad that a challenging year is over. It has taken swift action where required, reducing the cost base and upgrading the Board. The Group is trading in-line with revised expectations, with year-end net cash levels some way ahead of our estimates and underpinning dividend expectations.
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
Out with the old…
- Published:
11 Feb 2020 -
Author:
David O’Brien -
Pages:
4
2019 proved successful on several measures, not least organic revenue growth, cash generation, the performance of the Baltic operations and the turnaround of Benfleet. That said, management is likely to be glad that a challenging year is over. It has taken swift action where required, reducing the cost base and upgrading the Board. The Group is trading in-line with revised expectations, with year-end net cash levels some way ahead of our estimates and underpinning dividend expectations.