Tomkins PLC (Tomkins) has given a bleak revenue outlook for its FY 2009 equipment and construction businesses in its US and other markets. The outlook reflects lower global demand due to tighter credit conditions and the global economic slowdown. We continue to maintain our HOLD rating for the ADR based on fundamental factors. We will reassess our ADR (1 ADR = 4 UK shares) rating for Tomkins after the company announces its 1H 09 results in July 2009....

Tomkins PLC (Tomkins) reported y-o-y decline in revenues in FY 2008, falling marginally below our estimate. Operating performance fell short of our estimate, while net level performance was in line with our estimate for FY 2008. Going forward, we believe Tomkins will continue to face challenges from the weak global economic conditions, negatively impacting its revenues and profitability. Consequently, we intend to revise our estimates…

CLICK VIEW REPORT TO READ FREE REPORT

Tomkins PLC’s (Tomkins) NYSE common stock price has declined 21.0% since our company news alert, dated 06 November 2008, reflecting weakness in the global financial markets and the bleak outlook given by the company for its automotive, industrial and construction equipment segments for FY 2008 and FY 2009. Given the company’s major dependence on the US and UK markets, and the weakening of other markets,...