looks as expected I think .. acquisition is fresh and the costs of the transaction have impacted profitability but going forward won’t be there which will improve profitability.
the debt taken was not real favourable - however plans to restructure this asap. And it was necessary for the acquisition.
my take on the acquisition is that the board saw value that wasn’t factored into the price or the commercial business that has been revamped and has other cross sell opportunity.
looks like the foundations are laid for a big few years
Ann: IMG First Half Results MD Presentation, page-3
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