Neodecortech (NDT): Strong FY’20 results
Neodecortech (NDT) announced that it had significantly outperformed its baseline projection from last summer. Trading was driven by a focus on home furnishings and new products, with turnover down only 4%, despite the closures last spring. EBITDA was a very creditable €14.6m (ahead of our €14m forecast), and net debt actually fell marginally to €40m. These figures, plus the €0.09 dividend, show the strength of NDT’s business and the value of its investment in new products.
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