CAROLINE GULLIVER | EXECUTION NOBLE
This is a reassuring set of results. An encouraging earnings-per-share target implies that management believe they can generate consistent growth despite evident macroeconomic pressures. ‘Buy’.
MATTHEW MCEACHRAN | SINGER CAPITAL MARKETS
While we do not expect any changes to current year forecasts we believe the market will react positively to the new stage of the development plan. They remain excited about growth prospects.
FREDDIE GEORGE | SEYMOUR PIERCE
We would like to be more positive on the stock, but in view of the difficult economic outlook for the UK market and the likely increase in interest rates we choose to remain ‘neutral’ for now.