Published on: August 4, 2022
H1 22 – strong trading and positive outlook
Instem’s update for the six months to 30 June 2022 (H1 22) confirms that the business continues to trade strongly, with revenue up c.39% YoY. The group continues to experience wage inflation, as was previously signalled in the FY21 results. However, this will, at least partially, be offset by price increases implemented in April 2022. The group’s financial position remains robust, and commentary on the outlook for H2 22E is positive. We make no changes to earnings estimates following the announcement.