TP Group’s (TPG) story in recent years has been one of rapid revenue growth, and its half-year results show there is little sign of it slowing down. The specialist engineer’s reported revenues of £26m in the first six months of the year, up 63 per cent on the prior period. Of this, 56 per cent was organic growth while the balance came from acquisitions such as Sapienza, which provides software and services to the space and defence sectors.
IC TIP:
Buy
at
6.8p
The group's expansion shows little sign of slowing down. Management is looking at further acquisitions and has identified a sales pipeline worth over £700m, of which more than £250m is ready for active bidding.
House Broker Cenkos is forecasting adjusted EPS of 0.58p in 2019, up from 0.41p in 2018.
