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PLC [BUY +20%] - Cheap oil price propels earnings growth - Update

Company Research

17 Nov 2015

9M15 figures show slightly better-than-expected gross profit margin thanks to low input cost of base oil, which outweighed the slowdown in lubricant revenue caused by increased competition from foreign brands. Asphalt revenue was flat in the same period. However, higher gross profit margin assumptions for both lubricant and asphalt segments lift our FY15/FY16 NPAT forecasts by 5%/11%. Revised EPS growth for FY15/FY16 is 39.6%/13.6%.
Tags: PLC

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