Knights released a pre-close trading update this morning for the year to 30 April 2019. Revenues are guided to no less than £52.4m vs. Arden £52.8m, however adjusted PBT is set to beat with guidance of £9.7m vs Arden £9.3m. We note cash conversion was higher than normal, and net debt was £14.1m vs our expectation of £17.8m. The shares currently trade on 17.6x FY20 P/E, which we suggest as largely up with events, and so retain our Neutral rec and PT of 280p.
21 May 2019
Trading Update; Adj. PBT and Net Debt ahead
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Trading Update; Adj. PBT and Net Debt ahead
Knights Group Holdings Plc (KGH:LON) | 129 0 0.0% | Mkt Cap: 110.5m
- Published:
21 May 2019 -
Author:
James Bayliss -
Pages:
2
Knights released a pre-close trading update this morning for the year to 30 April 2019. Revenues are guided to no less than £52.4m vs. Arden £52.8m, however adjusted PBT is set to beat with guidance of £9.7m vs Arden £9.3m. We note cash conversion was higher than normal, and net debt was £14.1m vs our expectation of £17.8m. The shares currently trade on 17.6x FY20 P/E, which we suggest as largely up with events, and so retain our Neutral rec and PT of 280p.