Published on: October 13, 2021
Positioned for growth
HY21 results demonstrate that CEPS is now a transformed entity, with its first clean set of results following the strategic restructuring over the past three years. H1 is a creditable performance given the near-total shut down in two out of three of its end markets. Once normal trading resumes, we believe that CEPS is well placed to deliver on its capital growth strategy, through steadily growing underlying company profits and repaying debt. Given seasonality in Aford Awards and Friedmans, including Milano International, we anticipate limited recovery in FY21. However, we expect continued positive momentum in Hickton Group. Management indicated that FY22 should be a true representation of the potential financial performance of CEPS Group as a whole.
