12th March 2021
This legal services group has made a bold and clear decision to rationalise its Australian advisory services operations, casting off 85 employees and 14 lawyers in the process.
At the same time its latest Trading Update for the year to end April 2021 looked positive, with brokers Zeus Capital now going for £339m revenues and £27.3m pre-tax profits, worth 6.7p in earnings and covering a 4.7p dividend per share.
The group’s shares, which have been floating between 77p and 86p in the last month, closed last night at around the 84p level.
Offering such a good yield they offer some real upside, I remain very confident about my price objective.
(Profile 01.06.20 @ 67p set a Target Price of 100p)