Fri, 26 Apr 2024
04:57:38
BUY ACL:
02 Sep 2013
21:14:09
NDB Stockbrokers says to BUY ACL
Sep 02, 2013 (SLBO) - NDB Stockbrokers had recently recommended 'BUY' signal for ACL Cables PLC (ACL). Accordingly company's top line grew marginally by 3% in FY13/14Q1 amidst lackluster industry conditions. The gross profit margins witnessed a reduction due to the adverse swings in global copper prices and high energy costs. Despite the improved leverage and reduced finance cost as NDBS anticipated, net profit saw a noteworthy dip for the quarter.
However, the valuation still looks attractive considering the growth expected over the next 2 years in the higher margin institutional sector.
However, the valuation still looks attractive considering the growth expected over the next 2 years in the higher margin institutional sector.
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