Redde (AIM:REDD); strong performance since our original research note, more to go for?
We covered support services group Redde earlier this year in our Premium Research (‘This support services group yielding 7.3% attracts some star investors’), since when the shares have performed strongly. But is there more to go for? Our latest Blog here considers…
Redde provides a wide range of incident management and legal services to motorists and insurers.
We considered in our earlier note that that the c. £450m market capitalisation was broadly fair against forecast net income of £29m (for the year ending June 2017). In the end, Redde managed to generate £33.8m in adjusted net income, or £26.8m in statutory net income. The “adjusted” profit before tax came out at £40m, up 16% on…
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