
03 Dec 2015
Interims on track
Interim results look as expected, with no surprises in either the results or the outlook other than a hint that further acquisitions are being considered. The pipeline continues to progress steadily with one project added. We make no change to our forecasts and stay at Hold on valuation grounds. An acceleration in organic revenue growth is required for the shares to kick on from here, in our opinion.

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Interims on track
Interim results look as expected, with no surprises in either the results or the outlook other than a hint that further acquisitions are being considered. The pipeline continues to progress steadily with one project added. We make no change to our forecasts and stay at Hold on valuation grounds. An acceleration in organic revenue growth is required for the shares to kick on from here, in our opinion.