Brighton Pier Group (BPG) has announced a highly complementary acquisition of Lightwater Valley Attractions Ltd (‘Lightwater'), which owns and operates a leading family theme park in North Yorkshire, for up to £5.0m (c5x normalised EBITDA). We upgrade our forecasts to reflect this earnings enhancing deal (FY22E Adj EPS increased by 14% to 6.4p). With outlook appearing very positive for the group, and the shares trading on an undemanding FY22E Adj P/E of only 9.0x, we reaffirm our Buy rating.
17 Jun 2021
Cenkos: Brighton Pier Group Plc - Acquisition of Lightwater Valley Attractions
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Cenkos: Brighton Pier Group Plc - Acquisition of Lightwater Valley Attractions
Brighton Pier Group Plc (PIER:LON) | 45.0 -0.2 (-1.1%) | Mkt Cap: 16.8m
- Published:
17 Jun 2021 -
Author:
Peter Renton -
Pages:
6
Brighton Pier Group (BPG) has announced a highly complementary acquisition of Lightwater Valley Attractions Ltd (‘Lightwater'), which owns and operates a leading family theme park in North Yorkshire, for up to £5.0m (c5x normalised EBITDA). We upgrade our forecasts to reflect this earnings enhancing deal (FY22E Adj EPS increased by 14% to 6.4p). With outlook appearing very positive for the group, and the shares trading on an undemanding FY22E Adj P/E of only 9.0x, we reaffirm our Buy rating.