date:Jul 19, 2012
Panmures Damian McNeela said:We believe that post the disposal of St Hubert, the companys balance sheet will be transformed. The continuing business will be trading on an attractive valuation of 10.9xPE[price:earnings ratio].
The firm was on track to achieve a ratio of earnings value (EV) to earnings before interest, tax, depreciation and amortisation (EBITDA) of 4.3, he added.
Sales of its four UK brands Cathedral City, St Hubert, Clover, Country Life and Frijj rose by 15% with volumes incr