Research on Mpac Group PLC (MPAC:LON) from Tring Triangle
Today’s trading update will not come as a great surprise after the deteriorating trading environment revealed in April. The more important question is how the planned disposal of Lambert or its timing, especially given the sharp increase in net debt last year, is construed. We argue that the proposed sale of Lambert is a significant and positive development for the group, and if this goes unnoticed in the short term it should represent an investment opportunity.
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