PS&C: Leverage to further growth at the IT services provider

The company is cheap and has good growth in its security arm.

IT services company PSZ achieved an underlying half year result in line with guidance from January, with earnings before interest and tax (EBIT) of $3 million. One of the reasons PSZ trades on discounted earnings multiples and a micro $57.5m market cap is management have consistently struggled to meet market earnings expectations, even though they usually don’t provide formal earnings guidance.

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