ANALYST VIEWS: HAS SPIRIT MANAGED TO TURN ITSELF AROUND?

 
Kasmira Jefford
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PAUL HICKMAN | PEEL HUNT

I think its good to see that the momentum is there and …the current period of like-for-like sales recovered to 4.8 per cent positive in the last eight weeks...It was good to see that current bounce back in trading because it shows the investment process is still delivering the kind of uplift we were led to expect before.

KARL BURNS | SHORE CAPITAL

The results were in line with our expectations, highlighting the progress management is making in recovering several years of under-performance. Net debt was around £40m lower than forecast and current trading, with managed LFL sales ahead by 4.8 per cent, remains robust.

DOUGLAS JACK | NUMIS

In our view, the 6.6x EV/EBITDA rating undervalues Spirit’s growth prospects ... the rating ignores the progress being made in improving management quality (under new CEO, Mike Tye), brand portfolio and executing strategy, all of which is now driving strong, self-financed earnings growth.