Rusta (Hold, TP: SEK80.00) - Good start to summer sales
We consider this a slightly positive report for Rusta, including Q4 figures in line on sales, but with a strong gross margin offsetting slightly higher costs. On current trading, it states that a late summer start means good sales momentum at strong gross margins has continued in May. We expect consensus EBIT to be up 2–4% on the report, but note that the shares have been strong into the figures.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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