Analyst Research Report Snapshot

Title:

RENEW HOLDINGS - SAFELY THROUGH THE STORM

Price:

$10.00

Provider:

Edison Investment Research

Date:

26 May 2010

Pages:

2

Type:

AcrobatPDF

Companies referenced:

RNWH.L

Available for Immediate Download
Summary:

H1 operating profit was down sharply year-on-year, but showed sequential improvement from H2 last year and the order book recovery suggests that this will continue. We understand that market estimates are unchanged and, on this basis, Renew is trading on a bargain basement multiple with a c 10% yield. This significantly overstates the business risk in our view, particularly as the own cash position at the year end is likely to be c £6-7m. FOR MORE INFORMATION ON THE ATTACHED RESEARCH PLEASE CALL 020 3077 5700, EMAIL RESEARCH@EDISONINVESTMENTRESEARCH.CO.UK OR VISIT WWW.EDISONINVESTMENTRESEARCH.CO.UK

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