Macfarlane has announced good interim results with solid revenue growth in a tough environment, improving profitability and increasing new business. The recent pull-back in the shares has, in our view, priced in a worsening outlook which is not evident from the Group’s press release. The Board expects to meet its current expectations and thus we see the current level as an excellent entry point. Reiterate Buy.
27 Aug 2019
Interim Results Shows Strategy is Working
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Interim Results Shows Strategy is Working
Macfarlane Group PLC (MACF:LON) | 134 3.4 1.9% | Mkt Cap: 213.9m
- Published:
27 Aug 2019 -
Author:
Andrew Simms -
Pages:
7
Macfarlane has announced good interim results with solid revenue growth in a tough environment, improving profitability and increasing new business. The recent pull-back in the shares has, in our view, priced in a worsening outlook which is not evident from the Group’s press release. The Board expects to meet its current expectations and thus we see the current level as an excellent entry point. Reiterate Buy.