evans and partners downgraded firm (only 2 brokers...

  1. 63 Posts.
    evans and partners downgraded firm (only 2 brokers follow)

    revenue down subtantially because of record profit last year (initial stocking of UK)

    they had a 2.4m earnings uplift from acquisition of ADP, strip that out and results are only marginally up

    good thing is that the profit is actually hit by a one off of 1.6m for the non recurring tax losses

    pretty cheap, i think approx 11-12x ev/earnings

    with growth

    unwarranted selling
 
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