Low & Bonar PLC

Low & Bonar manufactures and supplies performance materials commonly referred to as technical textiles. Co.'s business units are: Building and Industrial, which supplies technical textile solutions for applications in air and water filtration, building and roofing; Civil Engineering, which supplies woven and non-woven geotextiles and construction fibers used in infrastructure projects, including road and rail building, land reclamation and coastal defense; Coated Technical Textiles, which supplies a range of technical coated fabrics; and Interiors and Transportation, which supplies technical fabrics used in transportation, interior carpeting, resilient tiles and decorative products.
  • TickerLWB
  • ISINGB0005363014
  • ExchangeLondon Stock Exchange
  • SectorGeneral Industrials
  • CountryUnited Kingdom

Analysts

Philip Morrish

Value Indicator - UK Main Market 16092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Construction & Materials 16092019

Currnelty '(TM)Value Indicator - UK construction & materials' is a value analysis of the Construction & Materials super sector of quoted companies on the London Stock's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Construction & Materials 09092019

Currently '(TM)Value Indicator - UK Construction & Materials' is a value analysis of the construction & Materialssuper sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 09092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target providers

Philip Morrish

Value Indicator - UK Construction & Materials 02092019

Currently '(TM)Value Indicator - UK construction& materials' is a value analysis of the Construction & Materials super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Toby Thorrington

Low & Bonar - Slow trading start to FY19, disposals underway

May trading newsflow causes us to lower earnings estimates significantly. Improvements to operational performance and further de-leveraging are firmly on management’s agenda and the disposal of the construction fibres operation will help in the latter regard. Metrics point to attractions for deep-value investors.

Toby Thorrington

Low & Bonar - Better funded for core strategy execution

Low & Bonar announced a fully underwritten £54m placing and open offer (c £50m net) alongside FY18 results. The new equity funding goes a long way towards resolving balance sheet net debt constraints and allows the relatively new management team to execute its updated strategic plan. Our revised estimates incorporate the funding effects, more gradual EBIT margin recovery and reset dividends in line with the stated policy.

Toby Thorrington

Low & Bonar - Re-set dividend expectations, targeting recovery

Improving operating and financial performance and lower net debt are key management objectives. FY18 results should provide some evidence of progress here, although our revised estimates now contain lower margin and dividend expectations in all three forecast years. Balance sheet clarity and margin recovery will be key share price catalysts, in our view.

Toby Thorrington

Low & Bonar - Tough conditions persisting in H2

While volume growth is being achieved in several divisions, some of the factors that affected H1 trading – most notably higher input costs – have not receded as quickly as anticipated. Underlying operational improvements are happening but have not been enough to offset these pressures to date. We have lowered FY18 earnings expectations sharply – slowing the rate of net debt reduction a little – with a flat DPS profile now.

Toby Thorrington

Low & Bonar - H1 profits disappoint but change is underway

The new management team has a clear focus on improving financial and operational performance across the group and individual business units. H1 results bear testament to a number of challenges faced in the period but also showed signs that actions are beginning to take effect. We have reduced our EPS estimates (by c 20% this year, c 10% in the following two) to reflect more conservative margin assumptions.

1 director bought

A director at Low & Bonar bought 200,935 shares at 14p and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board membe...

Philip Morrish

Value Indicator - UK Main Market 16092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Construction & Materials 16092019

Currnelty '(TM)Value Indicator - UK construction & materials' is a value analysis of the Construction & Materials super sector of quoted companies on the London Stock's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Construction & Materials 09092019

Currently '(TM)Value Indicator - UK Construction & Materials' is a value analysis of the construction & Materialssuper sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 09092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target providers

Philip Morrish

Value Indicator - UK Construction & Materials 02092019

Currently '(TM)Value Indicator - UK construction& materials' is a value analysis of the Construction & Materials super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch