Aspermont - Investment in growth

Friday, Oct 05 2012 by

Oct 05th 2012 - Edison Investment Research today published a report on Aspermont entitled "Investment In Growth". In summary, the report says:

The FY12 results were strong, as expected, with EBITDA up 80%, broadly in line with expectations. FY13 is a demanding one: events will be much enlarged by the Beacon deal, but early benefits will be modest due to start up costs. Heavy new product investment will squeeze events and online margins; our EPS (normalised) estimate is cut by 58%. But the investment and the Beacon deal should produce a strong profit rebound in FY14. Short term we estimate the shares have c 20% upside, with potential for further rerating when investment pays off.

About Edison Investment Research

Edison Investment Research


Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority ( more »