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Ive Group (IGL) $1.375

IGL +10.89%: The integrated marketing business, which we own in the Income and Emerging Companies portfolios, Ive Group popped to a two-week high today. The company spoke to strong momentum through the second half after seeing a rebound in sales in the first half. They also discussed  2 new deals – a 5 year deal with Australian Community Media (ACM) and a letterbox deal with Spotlight – as well it’s “strong track record of revenue retention” continuing. They guided to full year underlying EBITDA to $98-100m, inline with FY20 and slightly ahead of market expectations, while debt levels remain manageable. IGL remains cheap, growing top line with PE below 10 and yield around 8%.

MM is bullish IGL
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Ive Group (IGL)
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