Report

Update: Much more streamlined

Avesco's interim results showed trading profit ahead of our expectations and a 50% increase in the dividend. The major reorganisation of the European business is nearly complete and the benefits will flow through in the second half and more particularly in FY15. We have increased our PBT and dividend forecasts and see plenty more upside for margin improvement. The shares now yield a prospective 6.2% and stand at a 61% discount to diluted NAV of 163p/share, with a sound balance sheet backed by high-quality rental assets.
Underlying
AVESCO GROUP

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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