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Durex condom manufacturer SSL is proving its resilience in tough times. Its shares climbed 8 per cent after it said first-half revenues grew by 22 per cent, due to the strong euro and demand for its contraceptives and foot care cream. Sales on a constant currency basis rose 9 per cent as the company benefits from demand for its products in eastern markets including China.
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SSL has solid defensive characteristics so its shares, trading on a PE of just under 16 times 2009 forecasts at 427p, are good value.
Last IC view: Fairly priced, 509p, 21 Nov 2007
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-IC-1.5.4a-prod - 31/10/2008 13:11:34 - carlos.princz
