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  • #5192
    Nick Hargrave


    Short term financial performance has clearly been impacted more than expected as inflationary pressures and increasing interest rates have persisted in the UK, impacting new build demand and we will update our numbers accordingly. However, the business position remains strong and prices have been maintained, costs brought under control, the dividend policy is maintained and there are tentative signs of improving market conditions. We continue to believe that the short term headwinds provide an opportunity to invest in a leading operator in a long-term structurally growing market where there are barriers to entry from international competition. We expect the market to focus on the net debt increase after the company rebuilt its inventory levels in the period

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