IC write up10 Sep 2025 19:24
The shares currently trade at a consensus price/earnings ratio of under 10 for 2025. The business is leverage-free, cash generative and offers a growing dividend currently yielding about 5 per cent, according to FactSet. Despite the headwinds, margins are proving to be resilient, so we stick with our advice. Buy.
Last IC view: Buy, 425p, 26 Jun 2025