DGS announced today that the strong trading momentum as reported in the full year results (FY ending June 2015) has continued through the first quarter of the new financial year. Adjusted EBITDA margin in Q1’16 continued to improve vs. that achieved in H2’15. We are not making any changes to our forecasts and are highly encouraged by the trajectory not only within its principal clients but also in new markets. At 6.8x EV/EBITDA Jun’16 (10x P/E), supported by a 4% dividend yield, we believe there ....
