Oct 19th 2012 - Edison Investment Research today published a report on Low and Bonar (LWB.L, LSE:LWB, LON:LWB) entitled "Decent Year Despite Yarn Drag". In summary, the report says:
The broader group is performing in line with prior guidance, with one exception, as the year end approaches. Demand for grass yarns is being squeezed in its traditionally busy part of the year and, as a result, we are reducing PBT estimates by 7% for FY12 and c 3% beyond this. Earnings now look broadly flat in FY12, moving ahead again in FY13 and FY14. The P/E rating is sub 10x for the closing year and compresses fairly rapidly thereafter with our double-digit growth expectation.
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