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Ahead of the flooring firm’s preliminary results, Shorecap upgraded its pre-tax profit estimate for 2015 to approximately £13.1m. The analysts said restructuring of the store footprint and a more enticing brand is driving cash generation and profitability, and maintained a “buy” rating.
DE LA RUE
Numis reiterated its “hold” rating on the banknote printing company. The broker noted that recent results were in line with prior guidance, so the main interest was in the new chief executive’s strategy review, which he admitted was “evolutionary, not revolutionary”.
FinnCap retained its 40p price target and “buy” rating on the mining company, after the firm reported that the first gold has been successfully poured at its New Liberty gold mine in Liberia. Production will now build up, with full capacity targeted for the third quarter of 2015.