ProPhotonix (PPIX) has said that it is trading in line with market expectations for the full-year in its trading udpate. We make no changes to any of our forecasts but note that there are some increased non-cash charges which will impact reported net income but not EBITDA. In addition, PPIX has extended the company's Rights Plan to August 2020. This prevents the company being taken over "on the cheap". We maintain our 16p TP and Buy rating.
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Trading update/extension of Rights Plan
- Published:
14 Jul 2017 -
Author:
Robert Sanders -
Pages:
2
ProPhotonix (PPIX) has said that it is trading in line with market expectations for the full-year in its trading udpate. We make no changes to any of our forecasts but note that there are some increased non-cash charges which will impact reported net income but not EBITDA. In addition, PPIX has extended the company's Rights Plan to August 2020. This prevents the company being taken over "on the cheap". We maintain our 16p TP and Buy rating.