The transformation plan continues to drive operational performance but the new financial policy provides clarity…
Ramsay upgraded its net profit and earnings guidance to 15% to 17% growth for the full year.
There is a clear orientation towards growth and expansion in France and China. At this point in the investment cycle we think the company will continue to fund this growth through a combination of debt and free cash flow. However, the timing of acquisitions / new projects will impact credit metrics which means they could deteriorate further before stabilising.
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