Facilities by ADF has released a strong first half trading update which showed encouraging revenue growth and margin improvement. However, the ongoing actors and writers strikes originating in the US are starting to cause some disruption which leads us to reduce our FY23E estimates. We believe the strikes will have resolved themselves by year-end and so we leave FY24E forecasts unchanged. Following the c25% drop in share price since the strikes started in May, we believe the market has oversold ....
