All set to clean up
We see a promising outlook for REACT Group plc as a nimble, fast-growing business operating in a large, fragmented market with significant scope for rationalisation. Approximately 85% of revenues are recurring, with margins mostly high and on an improving path with a target of reaching 30% at the gross profit level by FY24. The cash generative LaddersFree operation is scalable and an important part of the Group’s growth profile. Cross selling of the Group’s services to a broader customer base is also expected to underpin expansion of both the top and bottom lines.Our various valuation models suggest a fair value of 1.7p per share, which is significantly ahead of current levels.
REACT Group is a cleaning company. The principal activity of Co. is to provide specialist cleaning and decontamination service to the public sector.
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