Van Elle has confirmed in today’s interim results to 31 October that it remains confident in achieving market expectations for FY25E, assuming continued strengthening of its end markets. Given mixed signals from some of these markets, we take a prudent stance and trim our adjusted PBT estimate by 9.0%, but recognise the possibility of raising it again by the year-end. The results demonstrated ‘continued resilience against challenging market conditions’, with ‘significantly improved activity’ by housebuilders and a strategy to diversify into growing infrastructure sectors.
Van Elle: Progressive
Jan 29, 2025Disclaimer & Declaration of Interest
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