FKP: On the road to recovery

FKP has been selling assets and cutting debt as it moves closer to being a pure retirement business. Jason Prowd revisits the investment case.

When we upgraded FKP back in February (see Unlocking the value in FKP from 26 Feb 13 (Speculative Buy – $1.60)), the investment case rested on the company simplifying its structure to release the hidden value in its retirement business.

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