CIMIC – High Conviction Idea Delivers A 20% Return

From our Monday “opportunities in review” webinar, CIMIC was a high conviction buy idea heading into earnings season.

The strong share price reaction to last week’s 1H profit  announcement  sent CIMIC shares  20% higher.

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The result came in ahead of analysts forecast with revenue growth and profit growth of more than 10%.

1H Revenue +11% to $6.9 billion, EBITDA of $794 million +11% and NPAT $363 million +12% and on the same time last year. 

Whilst the stock price now looks full value based on a forward yield of 3.3%, we continue to like the longer-term fundamentals.

Cimic Group

 

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