Low and Bonar - Better funded for core strategy execution

Edison Investment Research - Basic Industries - Low & Bonar: Low & Bonar announced a fully underwritten £54m placing and open offer (c £50m net) alongside FY18 results. The new equity funding goes a long way towards resolving balance sheet net debt constraints and allows the relatively new management team to execute its updated strategic plan. Our revised estimates incorporate the funding effects, more gradual EBIT margin recovery and reset dividends in line with the stated policy.

ISIN: GB0005363014

Den vollständigen Artikel lesen ...