Murgitroyd Group’s interims confirm another period of good revenue and profit growth, in line with our expectations. For the first time, H1 revenue exceeded £20m, well on track for our FY forecast. This impressive milestone reflects the strategic push into the USA, set against a largely favourable market backdrop. The Group is in excellent shape with a positive outlook, a strong balance sheet (£2m net cash) and a growing dividend yield (2.9% current year). We see intrinsic value at 650p, assumin ....
