The group’s year-end (to March) trading update confirms it has performed in line with market expectations, with a particularly strong cash performance reducing leverage to c.1.2x. Management recognise current global challenges but are well placed and have previously demonstrated agility and market share gains in tough conditions. Fibo is performing well and integrated in line. We snip our previously top-of-the-range FY26 adj. EPS forecast by 2.0% to 34.6p and maintain our FY27 forecasts. The sha ....
