First quarter trading for Smartgroup Corp is tracking mostly in line with consensus expectations for 2024, with revenue a slight beat and costs a miss.
Revenue growth was mostly driven by volumes, with average monthly new lease orders up by 7%, compared to the 2H of FY23.
Average monthly revenue has risen by 5% when compared to the 1H of FY23, and implies to the broker
Electric vehicle take-up was solid (up by 42%) in the broker's view, but stabilising. Inthe 2H of FY23 the a rise of 41% ocurred.
Equal-weight rating. Target
Sector: Commercial & Professional Services.
Target price is
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