Mondo’s licensing activities advanced significantly in the first half of the year, supporting a 67% increase in net profit. With Mondo’s developed pipeline, we are confident regarding delivery of the group’s FY17 budget and we increase our FY17e net profit by 5%, broadly in line with management’s raised guidance. We believe Mondo’s c 30% valuation discount to peers is unwarranted given the improving record of delivering to plan.
06 Oct 2017
Guidance raised for full year
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Guidance raised for full year
Mondo’s licensing activities advanced significantly in the first half of the year, supporting a 67% increase in net profit. With Mondo’s developed pipeline, we are confident regarding delivery of the group’s FY17 budget and we increase our FY17e net profit by 5%, broadly in line with management’s raised guidance. We believe Mondo’s c 30% valuation discount to peers is unwarranted given the improving record of delivering to plan.