Analyst Research Report Snapshot

Title:

REDHALL GROUP - SOLID FULL YEAR RESULTS

Price:

$10.00

Provider:

Edison Investment Research

Date:

03 Dec 2009

Pages:

2

Type:

AcrobatPDF

Companies referenced:

RHL.L

Available for Immediate Download
Summary:

FY09 results were in line to slightly ahead of our expectations. Driven by 11 months’ trading of Chieftain, revenue increased c 48% to c £129m and adjusted operating profit was £6.5m, up 39%. Excluding acquisitions, organic revenue and adjusted profit increased 6.6% and 3.7%, respectively. The group increased the dividend 10% and is buoyed by a resilient forward order book of £115m vs £110m last year. We continue to believe Redhall is successfully integrating its various operations under the Redhall Group brand and the shares should be re-rated as more benefits from this process are realised.

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