Marlowe has produced a strong set of results for H1/20A, with improved cross-selling helping drive an acceleration in organic revenue growth to +6.5% YoY. With H2/20E starting well, we upgrade our FY20E and FY21E forecasts to account for this improved growth trajectory, along with the impact of recent acquisitions. Buy.
03 Dec 2019
Cenkos: Marlowe Plc -- Trading ahead of expectations
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Cenkos: Marlowe Plc -- Trading ahead of expectations
Marlowe Plc (MRL:LON) | 512 -20.5 (-0.8%) | Mkt Cap: 495.7m
- Published:
03 Dec 2019 -
Author:
Peter Renton -
Pages:
7
Marlowe has produced a strong set of results for H1/20A, with improved cross-selling helping drive an acceleration in organic revenue growth to +6.5% YoY. With H2/20E starting well, we upgrade our FY20E and FY21E forecasts to account for this improved growth trajectory, along with the impact of recent acquisitions. Buy.