Morris & Co has signed a new licensing agreement in the US, the 3rd such deal in a key target market. Beyond the £0.7m contribution to PBT this year, which is non-cash accelerated income, the almost immediate timing of initial product launches means this deal will start generating profit/cash in H1 Jan’25. We make no changes to any forecasts today pending the full year update in 4 weeks, but see this deal as having positive implications for valuation, with the shares trading on a miserly P/E of ....
10 Jan 2024
Further licensing development in the US
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Further licensing development in the US
Sanderson Design Group PLC (SDG:LON) | 108 -1.6 (-1.4%) | Mkt Cap: 77.1m
- Published:
10 Jan 2024 -
Author:
Matthew McEachran -
Pages:
3
Morris & Co has signed a new licensing agreement in the US, the 3rd such deal in a key target market. Beyond the £0.7m contribution to PBT this year, which is non-cash accelerated income, the almost immediate timing of initial product launches means this deal will start generating profit/cash in H1 Jan’25. We make no changes to any forecasts today pending the full year update in 4 weeks, but see this deal as having positive implications for valuation, with the shares trading on a miserly P/E of ....