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Hardman & Co Research on The International Stock Exchange (TISE): Strong Bounce Back Continues
The International Stock Exchange (TISE) experienced a substantial recovery in the first half of 2024. Revenues climbed by 22% to £6.4 million, and fully diluted earnings per share (EPS) surged 27% to 105p. The second interim dividend was increased by 67% to 75p, reflecting a higher dividend payout policy. This performance underscores the robustness of the business amid more active markets.
Hardman & Co has updated its forecasts, raising the 2024 EPS projection to 191p from 182p and 2025 EPS to 232p from 219p. Consequently, the valuation range has been adjusted proportionately to £87 million-£91 million, with a central value of 3,000p per share.
R. P.
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