Mincon delivered significant revenue growth (+27%) in H1, although a lower margin curtailed profits. We are unlikely to change FY22 profit forecasts, and there is some upside risk to FY23. At a 20% discount to the sector, and with significant upside potential from new products, we retain our positive view.
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Warning: The value of your investment may go down as well as up and you may lose some or all of the money you invest. Past performance is not a reliable guide to future performance. Investments denominated in a currency other than your base currency may be affected by changes in currency exchange rates.
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