On Friday 27th September this leading provider of frontline healthcare services, corporate fitness and wellbeing services across the UK and Ireland, will be holding its 2024 AGM.
Frankly, I have been extremely disappointed with the progress of this group over the last couple of years.
Considering its marketplace, one would have thought that it would have performed progressively, but it hasn’t.
I note that analyst James Wood at Canaccord Genuity Capital Markets has a Price Objective on the group’s shares at 20p, which is double the current price.
He is estimating that the current year to end-March 2025 will show revenues down from £106.7m to £85.0m, while it could swing back into adjusted pre-tax profits of £0.7m (loss of £0.4m), with earnings of 0.3p per share.
Looking into the next year he sees £96.0m revenue, £1.6m profits and 0.8p per share in earnings.
Perhaps on the latter estimates, the group’s shares, now at 10p, could show some real price recovery over the next year or two.
(Profile 12.03.20 @ 12p set a Target Price of 18p*)
(Profile 21.04.23 @ 19.5p set a Target Price of 25p)
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