Leading International Investment Research

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>Respectable H1 trading has been partly overshadowed by ownership changes for two large customers triggering estimate reductions. Given the step down in expected earnings, investors may focus more on the 8.7% dividend yield and, based on the current financial position and our cash flow projections, we believe this level of payout to be sustainable.</p>

Respectable H1 trading has been partly overshadowed by ownership changes for two large customers triggering estimate reductions. Given the step down in expected earnings, investors may focus more on the 8.7% dividend yield and, based on the current financial position and our cash flow projections, we believe this level of payout to be sustainable.

Epwin Group PLC

Dividend focus