RE: 200,000 BUY21 May 2024 17:31
Two good brands in SIS and PhD, though SIS is the stronger of the two. Significant sunk investment in building brand awareness. New exec Chair has a strong track record of turnaround and shareholder value creation in PE. Refocusing on trade channel and selective B2C. Should be profitable again this year and over the medium term deliver c. 20% EBITDA margin which would mean £12m EBITDA. That would be 4x EV/EBITDA if they can get to £10-12m…at the current 19p a share.
Suggest to me the share price should be 40-60p / share.