Analyst Research Report Snapshot

Title:

CRESTON - STRONG H2 ACROSS THE BOARD

Price:

$10.00

Provider:

Edison Investment Research

Date:

23 Apr 2014

Pages:

3

Type:

AcrobatPDF

Companies referenced:

CRCRE.L

Available for Immediate Download
Summary:

Creston’s year-end trading update indicates that – as expected – the group had a good H2, with the improved H1 new business performance starting to deliver. H214 revenues were 3% up on H213 and 10% ahead of H114. Cash performance has been slightly better than we were anticipating and the group ended the year with cash of £7.5m. The route map for the new board structure is in place, with new CFO, Kathryn Herrick, formally taking over in July. Creston’s share valuation remains at a substantial discount to its peers, which we would expect to close as the growth strategy is clarified and expectations for financial performance are met.

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