XTRA:NVMAuto Components
Novem Group (XTRA:NVM) Stock Eyes Profit Recovery Despite Lumpy Tooling
Novem Group stock closed at €2.66 after the Q1 print, with the price still reflecting a market that has treated this auto components specialist as a low-growth, loss making story. The headline from these numbers is different. Revenue reached €133.3m and, more importantly, Novem moved back into the black with €1.6m of net income from continuing operations.
For a company that has been unprofitable over the last twelve months and carries pressure on interest coverage, that shift back to earnings...