Today, Ebiquity announced its FY11 interims which confirm last month's positive trading update. The planned integration of April 10's acquisition of Xtreme is now largely completed and synergies have been realised quicker than expected. With these cost synergies and the group's wider global presence, we believe that Ebiquity is now poised to achieve our suggested 15% pa EPS growth. We have moved down our FY11 EPS estimate to 5.4p (due to tax) and initiate a FY12 6.4p EPS estimate.

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