The broker highlights operating cashflow as the standout metric, which reflected the benefits of strong debtor collection, accelerated payments from government customers and utilisation of covid-19 tax deferral relief.
As expected the company did not provide FY21 guidance, but the broker expects this may be given at the October AGM.
Morgans advises investors to look through a potentially challenging FY21 and believes patience will be rewarded as strong growth returns from FY22 onwards.
Add rating is maintained. Target is raised to
Sector: Commercial & Professional Services.
Target price is
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