Harwood Wealth Group (“HW”) has reported interims – maiden results as a PLC – which are in line with our expectations. Revenues have continued to grow fuelled by underlying organic growth and the impact of a number of successful acquisitions. The acquisition pipeline is healthy with 7 prospects at non-binding heads of terms and having completed 13 YTD. We leave our forecasts unchanged at this point in time. We note £12.1m net cash post-IPO to be deployed on earnings enhancing acquisitions.
29 Jun 2016
N+1 Singer - Harwood Wealth - Interims in-line, healthy acquisition pipeline
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N+1 Singer - Harwood Wealth - Interims in-line, healthy acquisition pipeline
Harwood Wealth Management (HW.:LON) | 0 0 0.0% | Mkt Cap: 89.1m
- Published:
29 Jun 2016 -
Author:
Andrew Watson -
Pages:
7
Harwood Wealth Group (“HW”) has reported interims – maiden results as a PLC – which are in line with our expectations. Revenues have continued to grow fuelled by underlying organic growth and the impact of a number of successful acquisitions. The acquisition pipeline is healthy with 7 prospects at non-binding heads of terms and having completed 13 YTD. We leave our forecasts unchanged at this point in time. We note £12.1m net cash post-IPO to be deployed on earnings enhancing acquisitions.