IVE Group Ltd (IGL)
Hi MM What is your opinion on IVE Group (IGL) and their recent acquisitions.
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Answer
Hi Peter,
We discussed Australia’s leading integrated marketing business IGL on Wednesday. The conclusion being MM is bullish and we’ve added it back onto the Hitlist of our Emerging Companies Portfolio for the following main reasons:
- We like the recent acquisition of Impressu which enhances IGL’s footprint in the fast-growing SE Queensland corridor – they’ve got a good track record in the M&A space.
- The stock offers investors a rare combination of value, trading on an Est PE of 9x while yielding close to 6% fully franked.
Watch this space, MM could be a buyer before Christmas.
