Single-digit underlying revenue and PBT growth in H1 is already captured in our FY forecasts and the CY H1:H2 split is in line with PY patterns. With accretion from Inox offset by restructuring of Photo-Me Retail, we leave existing forecasts and 215p PT (22x FY18 adj. EPS) unchanged. Forecast DPS growth for FY18 remains an attractive 20%.
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H1 results
ME Group International plc (MEGP:LON) | 157 -2.8 (-1.1%) | Mkt Cap: 591.0m
- Published:
11 Dec 2017 -
Author:
Cavendish Research -
Pages:
12
Single-digit underlying revenue and PBT growth in H1 is already captured in our FY forecasts and the CY H1:H2 split is in line with PY patterns. With accretion from Inox offset by restructuring of Photo-Me Retail, we leave existing forecasts and 215p PT (22x FY18 adj. EPS) unchanged. Forecast DPS growth for FY18 remains an attractive 20%.