Adjustment king Restore continues bad work
Full year adjusted results from Restore (LON: RST) saw revenue rise 14% to £196m, pre-tax profit rise 20% to £37.5m and earnings per share rise 12% to 25.2p. Unfortunately the real, unadjusted numbers, were more modest with statutory pre-tax profit only £21m and statutory earnings per share only 13p. At the current share price of 282p, this results in a punchy price earnings multiple of 21.7x, akin to some of the excellent high growth companies included…
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