RE: Good RNS1 Oct 2020 13:40
Always useful to compare with the previous update; 7th July. At that point the sp was 27.55 with a net debt of £413, prompting Andrew Shepherd-Barron, analyst at Peel Hunt, to state: "Trading in the first quarter has been better than expected. We upgrade full-year 2021 profits before tax from €5m to €10m, and leave 2022 and 2023 unchanged at €42m and €63.6m respectively."
Peel Hunt, which had a 'buy' recommendation on the stock, left its price target of 49.0p unchanged. But Shepherd-Barron added: "There is substantial upside beyond this if expectations begin to be delivered."
Today the net debt has fallen further to £407M reflecting the further progress made and yet the sp even now languishes some 20% below the July 7th levels demonstrating the considerable upside in the short term