Turnaround momentum continued for
Compared to the previous corresponding period, revenue and earnings (EBITDA) rose by 29% and 72%, respectively. The earnings margin jumped to 12.8% from 9.7% on optimisation of existing contracsts and rates renewed at higher levels.
The broker upgrades FY24-26 EPS forecasts by 15-30% and highlights the company has grown revenue run-rates by 75% (in the less than three years since IPO) amid tough markets.
The target rises to
Sector: Materials.
Target price is
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