Macquarie says Australia's PEXA Group's acquisition of UK-based Smoove further de-risks the UK strategy, but flags lack of execution details
"Smoove acquisition further de-risks UK roll-out, but business is loss making and questions around the execution strategy remain"
Macquarie downgrades co's FY24-26 EPS by 6.5%, 7.4%, and 6.1%, respectively
Ann: Presentation - UK update and proposed acquisition of Smoove, page-11
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