It’s been a busy 6 months for SGI, with the acquisition and subsequent integration of the well-established Heatleys business setting the group up for a strong 2H19. After proforma interim EBIT of $1.0m in 1H19, this is needed to meet the $3.4m FY19 prospectus forecast. We are positive on the longer term growth prospects and believe the Company’s wide footprint, broad product lines, distribution networks, and diverse customer base provides growth opportunities. Revenue and margin growth is key in coming reporting periods, which if achieved, will underpin our view the stock offers value. SPEC BUY maintained.
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