Sequoia Financial Group Ltd (ASX: SEQ) (the Company) wishes to confirm guidance provided at the half year that it is on track to achieve Revenue in a range between $130m and $140m.
The Company further confirms EBITDA in the second half will exceed the first half with FY22 expected to be at the top end of a range between $12m and $13.5m or approximately 10 cents per share of operating cash flow before tax.
The Company continues to focus on seeking out acquisitions however given the current share price weakness we have decided to cancel the dividend reinvestment plan for the remainder of 2022. The Company will also look to use cash and debt for funding acquisitional growth in the shorter term rather than using the Company’s shares which are currently priced by the market on an enterprise value multiple of between 5 and 6 times current FY22 cash flow forecasts.
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