Today’s rock solid AGM trading update is supportive of our view that FY17 is set to deliver another good year of underlying financial and operational progress, building on FY16’s significant profit growth performance. Longer-term progress also looks assured given the encouraging news from HFG’s recent geographic expansionary moves in Australia and Portugal. To reflect HFG’s continued momentum on multiple levels and our view that HFG warrants, at least, a FY17 10x EV/EB
