IPH Limited (IPH): Asian growth engine steaming ahead
IPH Limited (IPH): Asian growth engine steaming ahead. Yestreday IPH announced underlying EBITDA of $18.3m, up 26% on pcp & ahead of our $16.5m estimate. Underlying NPAT increased 26% on pcp to $13.4m. We believe IPH is a high quality business with attractive operating attributes in a structurally growing industry. With IP servicing hubs in Singapore/Aust., & the potential to leverage off its multinational clients, we believe IPH is well placed to grow across Asia-Pacific and consolidate its position as a leading 'one-stop gateway' for the region. Also, we believe IPH has a high propensity to acquire businesses and see EPS accretive acquisitions as likely positive share price catalysts. Buy with a revised PT of $4.95.
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.
Comments
Comments
Sign In or Join Free to comment