Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Investors largely know what to expect in terms of the Laird (LRD) figures thanks to a comprehensive trading update in January, with revenue growth all down to currency tailwinds and acquisitions. Expect underlying pre-tax profit of about £50m. Net debt to EBITDA (earnings before interest, tax, depreciation and amortisation) at around 3.5-times will be below the four-times level temporarily negotiated with its banks. An anticipated £185m right issue will cut that to about 1.6-times, say analysts, presuming the cash call goes to plan. A well-executed turnaround and connected vehicles are the main positive catalysts going forward.