The broker highlighted strong revenue growth of 19% and 114% in Formwork and Industrial Services respectively, while Commercial Scaffold revenue was down -10%.
The company is guiding to underlying earnings growth of more than 20% and net profit growth of more than 40% in FY22. Morgans increases earnings per share forecasts by 3%, 5% and 19% through to FY24.
The Add rating is retained and the target price increases to
Sector: Capital Goods.
Target price is
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