Today’s interims are reassuring and confirm the actions previously announced are delivering results. The combination of rising sales growth (+20% so far in H2 vs H1 +4%), strong gross margin growth/recovery and cost rationalisation has delivered a step-change in EBITDA (back to profit) in H1 and this looks set to continue in H2. Confidence in the full year outcome has increased as a result. In the short term the transition from loss to profit makes the valuation anomaly less obvious but if manag ....
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Trading momentum building as self-help and growth registers
- Published:
01 Mar 2016 -
Author:
Matthew McEachran -
Pages:
4
Today’s interims are reassuring and confirm the actions previously announced are delivering results. The combination of rising sales growth (+20% so far in H2 vs H1 +4%), strong gross margin growth/recovery and cost rationalisation has delivered a step-change in EBITDA (back to profit) in H1 and this looks set to continue in H2. Confidence in the full year outcome has increased as a result. In the short term the transition from loss to profit makes the valuation anomaly less obvious but if manag ....