FY’19 results confirmed positive performance from all three businesses. Group sales grew 13%, whilst Bulgin delivered strong operating margin momentum (Bulgin +350bps) leading to FY’19 PBT up 77% (5% ahead of expectations). We have upgraded FY’20E forecast Adj FD EPS by 4%, and introduce FY’21E forecasts targeting growth of 50% (underlying: 14%) in sales, and 87% (underlying: 62%) in adjusted operating profit versus FY19. We have increased our SOTP implied valuation range to 68p – 76p including ....
12 Jun 2019
Confirmation of strong FY’19
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Confirmation of strong FY’19
Checkit plc (CKT:LON) | 22.0 0 0.0% | Mkt Cap: 23.8m
- Published:
12 Jun 2019 -
Author:
Caspar Erskine -
Pages:
3
FY’19 results confirmed positive performance from all three businesses. Group sales grew 13%, whilst Bulgin delivered strong operating margin momentum (Bulgin +350bps) leading to FY’19 PBT up 77% (5% ahead of expectations). We have upgraded FY’20E forecast Adj FD EPS by 4%, and introduce FY’21E forecasts targeting growth of 50% (underlying: 14%) in sales, and 87% (underlying: 62%) in adjusted operating profit versus FY19. We have increased our SOTP implied valuation range to 68p – 76p including ....