(CercleFinance.com) – The analyst believes that the third quarter has exceeded expectations, thanks to the acceleration of organic growth. Following this announcement, Jefferies confirms its advice to buy and its objective of 2000 pence.
‘ Turnover now reaches 109% of that of the 2019 financial year (99% in the 2nd quarter). EBITA margin for the third quarter increased by 40 basis points compared to the first half of 2022 to reach 6.2%. Net new business growth remains strong at 9.1% (H1 2022: 10.3%),” Jefferies said.
‘ The outlook has been revised upwards, with FY2022 organic revenue growth now expected at ‘around 35%’ from ‘around 30%’ (Jefferies 30%, consensus 30%). The EBITA margin forecasts for the 2022 financial year remain unchanged ‘adds the analysis office.
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