Ebiquity - 2023 results, value Buy? HotStockRockets writes...

BREAKING: Tirupati Graphite – its new auditor is so utterly mickey mouse, another reason why the board is not fit for purpose. Read from Tom Winnifrith HERE

“Media investment analysis” company Ebiquity (EBQ) has announced results for the 2023 calendar year and that it “look forward to making further profitable progress in 2024”. How good is the news from a current 44p share price?

The fraud Supply@ME Capital raises £1.5 million but is still insolvent - #BoycottKeithBayleyRogers writes Tom Winnifrith HERE

There was an increased adjusted profit on revenue up to £80.2 million, but still a statutory loss and net bank debt was £2.8 million higher at £12 million and ex-cash current assets £3.5 million lower at £30.7 million. However, ex-debt liabilities were £19.9 million reduced at £31.5 million and the company noted the performance despite a “challenging political and economic environment affecting our global clients… While the economic and political environment remains challenging there are signs that the advertising market is improving… 2024 has started very much as expected although we have seen some volatility in certain areas”.

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The bottom-line performance this year should be further helped by “efficiencies we have achieved so far as part of our transformation programme and cost management, as well as continuing growth in our higher margin Digital Media Solutions business”.

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There are forecasts for adjusted earnings per share to increase to 6p+, suggesting continuing good value from the current 44p share price, £59.9 million market cap. There are also clearly still some macro-environment risks, but we continue to consider delivery even close to expectations would deserve a share price return to 60p+. At up to 45p, still a Buy.

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Filed under: Ebiquity, Tirupati Graphite, Supply@ME Capital, LifeSafe, Advanced Oncotherapy, HotStockRockets

2024-05-15 10:28:36

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