Servcorp: Result 2014

Servcorp’s share price has jumped 15% since last week’s full-year result, and it’s easy to see why the market was impressed. Earnings per share (EPS) rose 24% but considerable potential remains.Year to 30 Jun20142013 /(–) (%)Table 1: Servcorp 2014 resultRevenue ($m)24220817Net profit ($m)26.321.324EPS (c)272224PER2126n/aDPS (c)201533Div. yield3.52.6n/aFranking (%)19100n/aFinal dividend11c, 35% franked, ex date 15 SepLike-for-like occupancy still languishes at 79% and, although management has (sensibly) stopped sharing its targets for this, it still sees it as a ‘significant opportunity to improve’, which is the positive way of looking at things. Europe and the Middle East continue to power ahead, with profit before...

Servcorp’s share price has jumped 15% since last week’s full-year result, and it’s easy to see why the market was impressed. Earnings per share (EPS) rose 24% but considerable potential remains.

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