The Millstream acquisition should generate substantial shareholder value in our view. It boosts adjusted EBIT by c.50% for just a £15.5m price tag, and the complementary customer set and product base create excellent cross selling opportunities. We raise our FY17 adjusted EPS estimate to 7.6p and introduce a FY18 estimate of 9.6p. PROACTIS is building its reputation for intelligent M&A and shrewd organic delivery; we expect to see further delivery on both fronts.
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A Good Deal of Potential
- Published:
07 Dec 2016 -
Author:
Gareth Evans -
Pages:
9
The Millstream acquisition should generate substantial shareholder value in our view. It boosts adjusted EBIT by c.50% for just a £15.5m price tag, and the complementary customer set and product base create excellent cross selling opportunities. We raise our FY17 adjusted EPS estimate to 7.6p and introduce a FY18 estimate of 9.6p. PROACTIS is building its reputation for intelligent M&A and shrewd organic delivery; we expect to see further delivery on both fronts.