The strong interim results, combined with good visibility on the outlook into Q1 2022, cause us to revisit estimates for the second time in as many months. The favourable outlook for Crestchic continues to be driven by a combination of strong data centre markets globally and, a return of large projects. The proposed disposal of Tasman is ongoing, with management engaged in discussions with third parties and an expectation that following its sale the Group will be debt free. This positive outlook is underpinned by the Board’s desire to return to the dividend list, seeking to create distributable reserves at a forthcoming General Meeting. This encouraging news has resulted in our adj. EPS expectation for FY2021 rising by 24.3% to 8.7p, hot on the heels of the 24.9% increase in August. We have also introduced estimates for the FY22 financial year, with adj. EPS of 10.9p and a dividend of 1.5p, the first since 2014
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Another significant increase in our estimates
- Published:
30 Sep 2021 -
Author:
Andy Edmond | David O’Brien -
Pages:
13
The strong interim results, combined with good visibility on the outlook into Q1 2022, cause us to revisit estimates for the second time in as many months. The favourable outlook for Crestchic continues to be driven by a combination of strong data centre markets globally and, a return of large projects. The proposed disposal of Tasman is ongoing, with management engaged in discussions with third parties and an expectation that following its sale the Group will be debt free. This positive outlook is underpinned by the Board’s desire to return to the dividend list, seeking to create distributable reserves at a forthcoming General Meeting. This encouraging news has resulted in our adj. EPS expectation for FY2021 rising by 24.3% to 8.7p, hot on the heels of the 24.9% increase in August. We have also introduced estimates for the FY22 financial year, with adj. EPS of 10.9p and a dividend of 1.5p, the first since 2014