Comms Group Limited - Valuation Gap Widening Despite Solid Trading

304 Views27 Nov 2023 19:33

Issuer-paid

SUMMARY

Comms Group Ltd (ASX:CCG), a global IT and communications services group, has provided some updated trading commentary as part of its AGM presentation.
Unaudited Q1 FY24 revenue was $13.6m, 50% of our H1 FY24 estimate, and unaudited EBITDA $1.5m, 50% of our H1 FY24 EBITDA estimate, placing RaaS H1 FY24 estimates on track.
Large opportunities are expected to close in the Global division over coming quarters, and along with additional Vodafone revenue is expected to boost the H2 FY24 result.

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