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Down 25% in a week and at 52-week lows, is this UK share now a bargain?
['Jon Smith', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
For one UK share, half-year results didn't come out as expected earlier this week, pushing the stock lower.
Revenue for the period was down 9% to £232.9m and adjusted operating profit down 4.1% to £43m.
Direction of travel from hereFrom my perspective, the big question is whether the results represent a temporary setback or a permanent structural change.
The cost reductions from H1 almost entirely offset the revenue decline, actually lifting the adjusted operating margin to 18.5%.
Adjusted earnings per share even increased slightly to 11.1p despite falling sales, highlighting management's ability to protect profits through efficiency measures.