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Restore plc – medium-term attractive further upside potential?

By Tom Winnifrith & Steve Moore | Wednesday 28 August 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


In a clearly tough macroeconomic environment, company describing itself as “the UK's leading provider of digital and information management and secure lifecycle services” Restore plc (RST) announced first half of 2024 adjusted earnings per share up 7% on the corresponding 2023 period and a dividend per share up 8% and suggested further upside to come with that it is “executing well against our plans, including the changes in operating style. The changes have been significant and will therefore take time before they fully bear fruit”. They though suggest to us medium-term attractive further upside potential from a 280p offer price.
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