They are selling these 2 companies at around 50 % of sales, while Enero is valued on an EV/sales of 61 %.
According to their last presentation, Leading Edge and Digital Edge belonged to the creative technology and data division (like OB Media), but were small Australian businesses.
Still difficult to have a clear view on what will be the end game for their M&A policy.
The company has mentioned several times its ambitions to do a significant acquisition.
It also explains why they have a rather unregular dividend policy : H1 dividend went from 2.5 c in H1 20 to 10.5 c in H1 21 and 6 c during H1 22, while EPS kept increasing during H1 21 and H1 22.
A bit disappointing that they did not use this opportunity to give an update on their forecasts. But I think they did the same thing when they did their last (small) disposal.
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