Full-year results showed encouraging progress, with underlying growth in the core business supplemented by a full year’s contribution from Sentek (above expectations) and four months from Astles. We are introducing 2019 forecasts as well as making minor changes to our 2018 forecasts. We have increased our target price to 30p, at which point the stock would trade on a FY 2018E P/E of 16.4x and EV/EBITDA of 9.3x, moving into line with its larger and more established peer group. These resu
26 Jul 2017
FY 2017 – acquisitions performing well
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FY 2017 – acquisitions performing well
SDI Group plc (SDI:LON) | 62.5 0.3 0.8% | Mkt Cap: 65.0m
- Published:
26 Jul 2017 -
Author:
Mark Brewer | Cavendish Research -
Pages:
16
Full-year results showed encouraging progress, with underlying growth in the core business supplemented by a full year’s contribution from Sentek (above expectations) and four months from Astles. We are introducing 2019 forecasts as well as making minor changes to our 2018 forecasts. We have increased our target price to 30p, at which point the stock would trade on a FY 2018E P/E of 16.4x and EV/EBITDA of 9.3x, moving into line with its larger and more established peer group. These resu