Earnings growth of 24% in FY15 was driven by a 10% advance in net fee income combined with strongly improving conversion ratios. With the group’s businesses trading well into the FY16 year, a full year contribution from the PS acquisition and currencies moving favourably, we believe our forecasts may prove conservative. Alongside a strengthening balance sheet, this supports the view that the current rating of 8x is a reflection of historic perception rather than current trading and pros
02 Mar 2016
FY15 results
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FY15 results
Empresaria Group plc (EMR:LON) | 38.0 0 0.0% | Mkt Cap: 18.9m
- Published:
02 Mar 2016 -
Author:
Ben Thefaut -
Pages:
5
Earnings growth of 24% in FY15 was driven by a 10% advance in net fee income combined with strongly improving conversion ratios. With the group’s businesses trading well into the FY16 year, a full year contribution from the PS acquisition and currencies moving favourably, we believe our forecasts may prove conservative. Alongside a strengthening balance sheet, this supports the view that the current rating of 8x is a reflection of historic perception rather than current trading and pros