The Group continued to operate robustly despite the onset of COVID-19 and remained highly cash generative. This enabled OPG to deliver on its deleveraging strategy, reducing gross debt 23% YTD whilst unrestricted cash increased £21.4m to £24.9m over the same period. We believe the Group is well placed to achieve our FY21E forecasts and at the current price level offers value to investors. We reaffirm our Buy recommendation.
29 Jan 2021
Cenkos: OPG Power Ventures Plc -- Strong recovery profile
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Cenkos: OPG Power Ventures Plc -- Strong recovery profile
OPG Power Ventures Plc (OPG:LON) | 10.6 0 0.2% | Mkt Cap: 42.6m
- Published:
29 Jan 2021 -
Author:
Cavendish Research -
Pages:
6
The Group continued to operate robustly despite the onset of COVID-19 and remained highly cash generative. This enabled OPG to deliver on its deleveraging strategy, reducing gross debt 23% YTD whilst unrestricted cash increased £21.4m to £24.9m over the same period. We believe the Group is well placed to achieve our FY21E forecasts and at the current price level offers value to investors. We reaffirm our Buy recommendation.