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Dar Global: Edison

11:35, 1st March 2024
Edison Investment Research
Company Broker Research
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Construction and materials - Mcap: US$662m - Price: US$3.7 - Flash

Dar Global (DAR) Follow | DAR


Initial FY23 results exceed revised guidance


DAR’s FY23 results showed impressive growth driven by a range of positive factors, which bodes well for 2024 and beyond. Dar Global is in the early stages of delivering over 5,700 residences in the Middle East and Europe and is now looking further afield to markets such as the US for opportunity. We anticipate that it will generate a return on equity in the high teens and we value the company on a multiple of shareholders’ funds basis at c US$930m (US$5.17/share), implying c 40% upside.

Analyst

Andy Murphy
Industrials analyst
industrials@edisongroup.com

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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