bullish
Epwin Group - Raised estimates and margin upside potential
SUMMARY
Epwin’s FY21 results exceeded our modestly upgraded estimates following a year-end update. The other highlights of the year were confirmed de-leveraging in line with guidance and a confident DPS uplift. Further recovery of industry input cost inflation through margin performance will be keenly watched but we have raised estimates for FY22 and FY23, including a stronger dividend expectation. In our view, the margin and share price risks are now firmly to the upside.
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- Epwin Group - Raised estimates and margin upside potential19 Apr 2022
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