The shares have performed well in recent months, having rebounded by 14% from the post-interim lows of 89p mid-March, outperforming the FTSE Small Cap Index (excl. investment trusts) by 13%. In our view, we see scope for this upward momentum to continue. We highlight the YTD operational progress that has been made within the group as being fundamental towards laying the groundwork for potential earnings upgrades (both organic and acquisitive) through FY20e and beyond. At current levels (11.2x ....