Neodecortech (NDT) announced that the strong trading in 3Q had continued into 4Q and it expected to significantly outperform its baseline projection from the summer. We have upgraded our forecasts and central valuation estimate to reflect this news. The trading has been driven by a focus on home furnishings and new products. Net debt will have risen slightly for FY’20 but the company remains in a strong financial position, in our view.
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