Findel has released an encouraging H1 update which reassures on both business units, in particular Express Gifts its biggest division (85% of FY18E EBITDA). The combination of strong growth from existing customers, successful recruitment in this first phase of its planned expansion, and double digit financial services income growth has positive implications for underlying profitability over peak in H2 and into FY18. This is helpful at a time of worsening FX headwinds. The 7.6x cal17 P/E (5.3x ad ....
13 Oct 2016
N+1 Singer - Findel - Increasing momentum in EGL and improved trend in Education
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N+1 Singer - Findel - Increasing momentum in EGL and improved trend in Education
- Published:
13 Oct 2016 -
Author:
Matthew McEachran -
Pages:
4
Findel has released an encouraging H1 update which reassures on both business units, in particular Express Gifts its biggest division (85% of FY18E EBITDA). The combination of strong growth from existing customers, successful recruitment in this first phase of its planned expansion, and double digit financial services income growth has positive implications for underlying profitability over peak in H2 and into FY18. This is helpful at a time of worsening FX headwinds. The 7.6x cal17 P/E (5.3x ad ....