The AGM update confirms Empresaria is trading in line with expectations in the year to date. Our FY17 forecasts are unchanged with momentum driven by organic growth as underperforming markets stabilise and the full year benefits from acquisitions; Arden forecast FY17 earnings growth of 23%. We believe the valuation, as highlighted in a FY17 PEG ratio of 0.45x, remains inconsistent with current trading, geographical alignment and delivery of the strategy to acquire niche growth businesses such
03 May 2017
AGM update
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AGM update
Empresaria Group plc (EMR:LON) | 38.0 0.2 1.3% | Mkt Cap: 18.9m
- Published:
03 May 2017 -
Author:
Ben Thefaut -
Pages:
4
The AGM update confirms Empresaria is trading in line with expectations in the year to date. Our FY17 forecasts are unchanged with momentum driven by organic growth as underperforming markets stabilise and the full year benefits from acquisitions; Arden forecast FY17 earnings growth of 23%. We believe the valuation, as highlighted in a FY17 PEG ratio of 0.45x, remains inconsistent with current trading, geographical alignment and delivery of the strategy to acquire niche growth businesses such