UK's S&U falls on lower-than-expected FY profit forecast

S&U

09/02/2024 08:46

** Shares of motor finance co S&U  SUS.L  down 9.5% to
1,900p; top loser on FTSE smallcap index  .FTSC 
    ** Co sees PBT for year ended Jan. 31, 2024 between 10% and
15% below consensus expectations of about £38 mln ($48 mln)
    ** "2023 has not been a vintage year for either S&U or the
specialist financial services sector" - Co says
    ** Brokerage Peel Hunt cuts target price to 2,392p from
2,500p, cuts to hold from add
    ** Co expects second interim dividend for year to be 35p,
payable on March 8
    ** In 2023 stock was up about 5%

($1 = 0.7920 pounds)

 (Reporting by Vaibhav Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))