Restore Share Price (RST)

https://twitter.com/surprised_trade/status/1521738721216897026

rns - Strategic acquisition increases Restore Technology capability

Excellent news, rather flat for a while, although 3 year chart good, was thinking of ditching but on basis of news, will top up!

Broker raiaes valuation to 645p.

James Wood at Canaccord Genuity observed Restore’s record revenues and earnings underlined ‘the resilient nature of the mission-critical and increasingly technology-enabled services’ which the company provides to its public- and private-sector customers.

As well as keeping his Buy rating, Woods raised his sum-of-the-parts valuation for the group from 615p to 645p.

https://www.sharesmagazine.co.uk/news/shares/investors-in-restore-rejoice-at-record-earnings-and-growth-plans

Investors in Restore rejoice at record earnings and growth plans

....thanks to improving momentum throughout the year the revenue run rate at the end of the fourth quarter was more like £260 million, 20% above 2019’s level.

The acquisition of EDM in April 2021 effectively doubled the exit run rate of the Digital business to £46 million while at the same time delivering margin benefits due to the unit’s increased scale.

Three smaller acquisitions helped double the exit run rate of the Technology business to £34 million, also with a positive margin effect.

Pre-tax profits increased by a whopping 475% to £23 million, while EBITDA (earnings before interest, taxes, depreciation and amortization) rose by 29% in line with turnover.......

Yep. really good results. Still, PE of 19x is giving them the benefit of the doubt going forwards. I'm a happy holder here, but above £5, I'm looking to let a few go.