Glenveagh Properties

Exceptional performance continued, volume target beat of 16%

  • Sectors : Construction and Housebuilding
  • Companies : Glenveagh Properties

Ratings and price correct at time of issue.

  • Glenveagh Properties

    Closing Price: 86.4c

  • RATING 10/11/17

  • PREVIOUS RATING N/A

Person's Name

Colin Sheridan CFA

Analyst

DAVY VIEW

Glenveagh has continued its strong performance operationally since IPO by beating its 2019 volume target by 16%. Revenue for the group is 3% ahead of our expectations and margins appear to be in line, so we expect some upside risk to numbers. The company is well positioned for 2020 and has entered the year with a strong forward order book. We can reiterate our ‘Outperform’ rating with a high level of conviction.

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Jan 7 2020, 07:35 GMT

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