Interim results for the half year ending 30 November 2008 will come on 29 January but the Company gave a pretty bullish update last week.
http://www.stockopedia.com/news/announcement/EAGA/081211eaga9290j.htm
The Board is pleased to announce that trading has remained in line with its expectations for the period under review. eaga's strong overall growth has continued, with encouraging progress in its core markets. The Group maintains a strong balance sheet and is well positioned to deliver further growth. The Group was encouraged by the Government's announcement within the Pre-Budget Report on 24 November that an additional £150m would be allocated to the Warm Front Scheme over the next two years. eaga welcomes the increased funding, and is awaiting further direction on the specific phasing and deployment of the additional investment. The announcement, which formed part of the Government's 'Green Stimulus' within the Pre-Budget Report, clearly demonstrates the ongoing importance and the long-term nature of the social and environmental market drivers to which eaga responds.
In the short term, the pre-budget announcement is encouraging support for the stock given the importance of the Warm Front Scheme but will all this energy efficiency stuff die away now that the price of oil has tanked?
Brewin Dolphin are forecasting current year pre-tax profit forecast unchanged at £47m on forecast sales of £677m. Near-term, this stock feels quite defensive because of the government contracts so it seems fair to assume that this year will be strong but beyond that, I am worried by the price of oil.
