Edison Investment Research - Medserv (MDS) Momentum to build in H2

Report

Edison Investment Research

Annabel Hewson

Momentum to build in H2

While H117 results reflect a slower than expected performance in each of the key divisions, Medserv looks set to deliver sequential improvement in H2. We have lowered FY17 estimates; however, our FY18 estimates remain largely unchanged as momentum from the increased drilling programme from Q417 should continue. The longer-term investment case is underpinned by established contracts for drilling and OCTG services together with workover programmes. In addition, the company is well placed to secure business in new geographic markets to support growth.

24/08/2017 5 EN

Underlying

Medserv

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MT0000310103 Malta Stock Exchange Malta

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Annabel Hewson

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Momentum to build in H2

MedservRegis - Termination of coverage

MedservRegis - Reverse takeover transforms prospects

MedservRegis - Reverse takeover transforms prospects

Topps Tiles - Accelerating growth through Q125

Baillie Gifford US Growth Trust - A unique high-growth strategy meriting support

Greggs - More challenging environment in H224

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