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Sep 14 2023, 07:10 IST/BST
Glenveagh Properties
Comfortable with FY24 forecasts
- Sectors : Construction and Housebuilding
- Companies : Glenveagh Properties
DAVY VIEW
The significant progress made on the order book and planning permissions by Glenveagh year-to-date mean that the company can confidently reaffirm guidance of 7.5-8.0c in EPS in FY23 and be comfortable with FY24 consensus of c.17c. On what is now a clear path to 15% return on equity in FY24, the 0.82x FY23 book multiple is far too cheap.
