11 April 2024 - trading update
The bathroom and kitchen products group has announced a trading statement covering the year to 31 March ahead of the publication of the results on 13 June. Despite the challenging trading conditions the company has proved fairly resilient although revenues for the year have declined to £390m from £441m the previous year. When we last commented on the shares in December, we were forecasting adjusted pre-tax profits of £36m for earnings per share of 30.2p and are happy to retain these. Strong cash flow at the group has allowed net debt to fall . . .
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