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Matrix Composites & Engineering (MCE) – 2H Reflects Tough Conditions

    Home Uncategorised Matrix Composites & Engineering (MCE) – 2H Reflects Tough Conditions
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    Matrix Composites & Engineering (MCE) – 2H Reflects Tough Conditions

    By admin | Uncategorised | 0 comment | 21 August, 2015 | 0

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    A focus on costs and efficiencies saw earnings climb in FY15 despite weaker revenue. However a softer 2H reflects the tough conditions this calendar year and we expect little improvement in FY16 as MCE reduces output to match demand. Longer term we believe sustained recovery and improved plant utilisation will require the product and market diversification that MCE is targeting. Until it occurs, our hold call remains appropriate.

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