Knights has released a trading update for the 6m ended 31 October 2019, confirming performance is in line with market expectations. Growth from prior acquisitions (excluding Emms Gilmore Liberson, which was acquired post period-end) was complemented by double digit organic revenue growth. We maintain our PT of 330p, and Neutral recommendation; on current forecasts (yet to be updated for the EGL acquisition) the shares trade on 20x FY20E P/E, which we believe is largely up with events.
21 Nov 2019
Interim trading update – in line with expectations
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Interim trading update – in line with expectations
Knights Group Holdings Plc (KGH:LON) | 129 0 0.0% | Mkt Cap: 110.5m
- Published:
21 Nov 2019 -
Author:
James Bayliss -
Pages:
2
Knights has released a trading update for the 6m ended 31 October 2019, confirming performance is in line with market expectations. Growth from prior acquisitions (excluding Emms Gilmore Liberson, which was acquired post period-end) was complemented by double digit organic revenue growth. We maintain our PT of 330p, and Neutral recommendation; on current forecasts (yet to be updated for the EGL acquisition) the shares trade on 20x FY20E P/E, which we believe is largely up with events.