Brewin Dolphin Holdings (LON:BRW) - Sowing seeds in 2012

Friday, Jun 01 2012 by

Jun 01st 2012 - Edison Investment Research today published a report on Brewin Dolphin Holdings (BRW.L, LSE:BRW, LON:BRW) entitled "Sowing Seeds In 2012". In summary, the report says:

Given Brewin Dolphin’s (BD) success at the Chelsea Flower Show, a gardening analogy is appropriate for its interim results announced on 29 May. The company has sown the seeds for a great display in the future, but near term the ground has been flooded by market downpours. Its strategic review is on time and on budget to deliver 20% margins in 2014. However, we have reduced our 2012/13 estimates to reflect weaker near-term customer trading activity. We do not expect this adjustment to surprise investors.

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Edison Investment Research


Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority ( more »