Knights announced the acquisition of Brookstreet des Roches on Monday 31st January – its fourth acquisition since listing in June. We upgrade our model for the previous acquisition of Cummins Solicitors (pro-forma £0.8m revenues) and for Brookstreet (proforma £7.2m revenue). FY19E numbers are largely unchanged given 1 April completion and we upgrade EPS 11% and 17% for FY20E and FY21E. We increase our PT to 280p (17.4x FY20E EPS) and move our stance to a Neutral. The shares
06 Feb 2019
Acquisition of Brookstreet; upgrades to numbers
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Acquisition of Brookstreet; upgrades to numbers
Knights Group Holdings Plc (KGH:LON) | 123 2.1 1.4% | Mkt Cap: 105.3m
- Published:
06 Feb 2019 -
Author:
James Bayliss -
Pages:
2
Knights announced the acquisition of Brookstreet des Roches on Monday 31st January – its fourth acquisition since listing in June. We upgrade our model for the previous acquisition of Cummins Solicitors (pro-forma £0.8m revenues) and for Brookstreet (proforma £7.2m revenue). FY19E numbers are largely unchanged given 1 April completion and we upgrade EPS 11% and 17% for FY20E and FY21E. We increase our PT to 280p (17.4x FY20E EPS) and move our stance to a Neutral. The shares