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Sumo Group - H1FY19 analyst meeting feedback; upbeat in tone
- Published:
30 Sep 2019 -
Author:
Cavendish Research -
Pages:
3
H1FY19 analyst results meeting (see here http://bit.ly/SUMO_H119) was upbeat. We thought of particular interest was management commentary about: (1) ongoing successful game development talent recruitment; (2) own IP; and (3) likely M&A. SUMO has sector-leading growth revenue/EBITDA growth rates (CY18-20 24.5%/25% vs sector av. of 16%/19%) but still trades at a 7% EV/EBITDA discount.