The Group has reported a solid set of results in line with expectations; NFI and Adjusted PBT grew 4% as reported in the January trading statement. Strong cash generation, a diversified model and a renewed focus on organic growth and margin improvement is not currently reflected in a highly modest FY19 P/E of 5.6x. We believe that the Group is well positioned for a re-rating once it demonstrates effective implementation of its strategy to provide additional central support to its niche brands
13 Mar 2019
FY18 results in-line; Dividend raised 52%
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FY18 results in-line; Dividend raised 52%
Empresaria Group plc (EMR:LON) | 36.5 0.4 2.8% | Mkt Cap: 18.2m
- Published:
13 Mar 2019 -
Author:
Michael White -
Pages:
9
The Group has reported a solid set of results in line with expectations; NFI and Adjusted PBT grew 4% as reported in the January trading statement. Strong cash generation, a diversified model and a renewed focus on organic growth and margin improvement is not currently reflected in a highly modest FY19 P/E of 5.6x. We believe that the Group is well positioned for a re-rating once it demonstrates effective implementation of its strategy to provide additional central support to its niche brands