Volution - Earnings guidance increased

Davy Research
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The last 12 months can be regarded as a year of significant progress by Volution. A material improvement in both margins and profitability has been accompanied by strategically important acquisitions, most notably that of ClimaRad. The group's performance has exceeded expectations as has been evidenced in very positive earnings forecast momentum. This has continued in the latest update with a likely high-single-digit upgrade to full year earnings forecasts. This helps justify the re-rating of Volution, with the group share price up over 60% year-to-date, which has led to a recent promotion to the FTSE 250.