LONDON (ShareCast) - (Sharecast News) - Analyst at Canaccord Genuity maintained their 'hold' rating on ventilation products supplier Volution Group on Thursday following the firm's in-line results.
Canaccord said there was "no big surprises" in Volution's full-year results, but noted that they did show "a very good level of cash generation", with net debt better than expected.

"Revenue and earnings were broadly as expected and benefited from the group's geographical diversification with better profit outcomes in Europe and Australasia mitigating the negative impact of the sharp UK profit fall," said the analysts.

The Canadian bank also highlighted that operating profit was "slightly higher" than it had expected but stated a higher tax rate meant that adjusted earnings per share were just broadly in line with expectations.

"With trading hopefully adjusting to a less disruptive backdrop, and assuming current trends continue, it seems that the group plans to reinstate dividends this year and more seriously consider further acquisitions," said Canaccord, which also reiterated its 190.0p target price on the stock.

"At this point, we would not expect any material changes to consensus estimates, despite the good start to the current financial year, given the macro uncertainties but it looks well supported by recent trends."

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