G&H reported interim results in line with its February guidance, which indicated a heavier weighting to H2 than in FY15, with a H1 16 profit decline, and reiterated existing expectations for FY16. This H2 weighting appears supported by the stronger performance in Q2 than Q1, a 13% rise in the group’s order book and increase in new product launch activity. We have made no changes to our PBT forecasts (42:58 split vs. 49:51 in F15). Our EPS forecasts have risen very slightly due to lower tax rate ....
