The outlook refers to some sign of improved trading volumes since the summer; importantly the margin improvement programme is delivering results. We expect management to deliver margins of over 20 per cent.
DAVID MCCANN NUMIS
We continue to believe there are much better opportunities in the sector and would continue to avoid Brewin. Management has a far from successful track record of success of delivering on guidance in our opinion.
MARK THOMAS EDISON INVESTMENT RESEARCH
The tone of the management commentary is muted, highlighting challenges in the past year, but there are some early signs of improvement in its most recent trading.