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Jun 1 2022, 08:20 IST/BST
Glenveagh Properties
Buyback to commence today
- Sectors : Construction and Housebuilding
- Companies : Glenveagh Properties
DAVY VIEW
Glenveagh has made significant progress in improving balance sheet efficiency in the last two years, which has driven a material improvement in cash flow generation. This has resulted in c.€260m of share buybacks announced in just over 12 months. We expect further buybacks in FY23. Trading at only 0.94x trailing book value and 5.4x 2024 EPS, the stock is very good value at these levels.
