Last checked at 29 Sep 2020 09:14
Sales and cashflow rebound as lockdown lifts Scotland's only quoted housebuilder's home completions and cashflow have recovered sharply from the country's prolonged lockdown, with delayed sales fuelling what the Group predicts will be a strong first half to the current financial year. Today's FY 2020 results, to May, show the impact of the lockdown in the final two months, which normally account for almost a third of sales, but confirm that delayed sales are expected to add to strong underlying demand in H1 2021, with debt having fallen by over £25m in four months and a 2p final dividend proposed. Our reinstated forecasts assume PBT surpassing the previous record by FY2022E and debt continuing to fall.
|
Click here for full analysis
Subscribe to Progressive's research, which is freely available to every type of investor, and be kept informed about our regular programme of investor engagement.
About Progressive:
Progressive is an equity research and investor engagement company. FCA authorised and regulated, the firm has a 15-strong team of highly experienced analysts. We provide Institutional grade research and connect companies with investors across every sector of the market.
www.progressive-research.com
Broad coverage
| Analyst calibre
| |||
across 12 sectors |
|
|
| |
|
|
| ||
Business Services | Oil & Gas | 15analysts | with average | 20years |
Financials | Property | experience of | ||
Healthcare | Retail | |||
Industrials | Technology | 30+ | techMARK | |
Investment Trusts | Telecoms | industry based | Extel | |
Mining | Utilities | awards | StarMine | |
For further information please contact:
Emily Ritchie
+44 (0) 20 7781 5311
eritchie@progressive-research.com