After the release of their interims last month the Group has seen its share price continue to rise.
Companies: Inspired PLC
Inspired Energy's (LON: INSE) share price has jumped a further 10% in early morning trading today, continuing the healthy trend of their steadily increasing share prices this year.
The Group currently trades at 23p per share, double the price on this day last year of 11.5p.
The interims released on the 22nd of August only buoyed the share price growth already seen in 2017, highlighting the performance of the group's strong growth and expanding margins enjoyed in H1 17.
EBITDA grew 26% as sales grew 20% in H1 17 versus H1 16, while cash grew over a third in the same period, boosted mainly by an improvement in payables. The order book was also healthy, rising by 60% to £41m, and interim dividend growth was also 23%.
The Group purchased Horizon Energy in July, which was funded by a significantly oversubscribed” £9m placing", with early signs pointing in the right direction.
Panmure Gordon's note, published on the 22nd August, relating to the results said the reported net debt of £12.6m was slightly less than their forecasted £13.5m. It went on to say that while their FY17 PBT forecast had already been raised 13% this year, the interims would leave this increase unchanged for now. They also reiterated their "Buy up to 23p" position.
Looking at the charts, Inspired shares have continued to grow steadily since their float in 2011, with the share price up from the average of c. 13p in 2016 to 23p today.
Research notes aside, the Group has a market cap of £124m and a PE ratio roughly on par with the industry median of 14x.
