Wednesday December 3, 10:55 AM
Glance-STOCKS NEWS EUROPE-Dawson Holdings up on strong FY results
STOCKS NEWS Reuters Results diary
Europe Real-time Equity News
10:38GMT 03Dec2008-Dawson Holdings (LSE: DWN.L
- news) up on strong FY results
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Shares in Dawson Holdings rise 14.8 percent to 56.25 pence after the
British newspaper and magazine distributor reports an 18 percent increase in
annual pretax profit, reduces its net debt by a quarter and is bullish on its
prospects for 2009.
Altium analysts say that although the macro environment is likely to lead to
a softer market over the next year, especially in monthly magazines, they are
confident Dawson will be able to defend its profitable territories and will
continue to pay a dividend.
'We continue to believe that Dawson is committed to its increasingly
comfortably-covered dividend payout and, on this basis, we believe that the
stock is a clear 'buy' on the basis of the 15.5 percent dividend yield alone,'
they say.
To see Dawson's statement please click on
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