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Matrix – Larger order improves outlook

    Home Latest Research Matrix – Larger order improves outlook
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    Matrix – Larger order improves outlook

    By admin | Latest Research | 0 comment | 20 December, 2018 | 0

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    Matrix's recent $15m RBM contract boosted the order book to $43m, and was followed by a $3m placement to help support greater workflow. It also helps underpin FY19 revenue guidance of $35-40m (in line with our $37.0m forecast). Recent trends are encouraging, although forecasting remains difficult. We expect near term sales to be predominantly in the oil & gas space (and therefore influenced by the oil price), while penetration into other sectors will only be potentially meaningful in the longer term. Nevertheless, at the current price we upgrade to SPEC BUY (prior HOLD) on a revised valuation of $0.47 (prior $0.50).

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