finnCap Research Company Notes - 21 November 2018

Nov 21, 2018 / News

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Sector: Industrials

Zambeef (ZAM): Firing on all cylinders

Key data                              

  • Share price (p)                  12.3
  • Target price (p)                20.0
  • Market cap (£m)                              36.8
  • Enterprise value (£m)                    122.2

Zambeef has announced FY 2018 results for the year ending September 2018. This is an upbeat statement highlighting that the momentum that was evident in the Retail and Cold Chain Food Products businesses at the interim stage continued to the end of the year. The Group has modestly beaten our expectations and we upgrade c5% underlying for FY 2019 but this is more than wiped out by an expected 13% FX headwind. We retain our 20p price target.

Raymond Greaves | rgreaves@finncap.com

finnCap operates an ‘access-for-all’ approach for corporate research, approved by the FCA and paid for by finnCap’s corporate clients.

 

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