In its April 4 Trading Update for the year to 31 March 2017, AdEPT reported that FY17 EBITDA (underlying) rose 26%YoY, indicative of £7.8m, which is 6% above our outlook of £7.3m. Revenue for the year is reported up 16%, indicative of c£34.0m. We note the dilutive effect on projected FY18 EPS of the exercise of warrants by Barclays Bank plc on March 16, resulting in the issue of 1,204,707 shares and a cash inflow of £129,000.
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FY17 Trading Update. Target Price Raised to 360p.
- Published:
24 May 2017 -
Author:
Mike Jeremy -
Pages:
12
In its April 4 Trading Update for the year to 31 March 2017, AdEPT reported that FY17 EBITDA (underlying) rose 26%YoY, indicative of £7.8m, which is 6% above our outlook of £7.3m. Revenue for the year is reported up 16%, indicative of c£34.0m. We note the dilutive effect on projected FY18 EPS of the exercise of warrants by Barclays Bank plc on March 16, resulting in the issue of 1,204,707 shares and a cash inflow of £129,000.