(News Bulletin 247) – The title Memscap shows one of the strongest declines of the Paris Stock Exchange on Friday, penalized by profit taking after its recent flight while the pressure sensor specialist unveiled half-year results without surprise.
At 11:15 a.m., the share fell by 7% while the CAC Mid & Small index was up slightly (+0.3%). The title still shows a gain of 360% since the beginning of the year.
The group announced that its operating profit from continuing operations stood at 1.16 million euros for the first half, compared to a breakeven operating profit for the 1st half of 2022.
Its net profit stands at 1.13 million euros over the half-year, compared with a net loss of 571,000 euros in the first half of 2022.
Already published, the consolidated turnover of continuing activities shows an increase of 55.6% to 4.55 million euros, boosted in particular by the medical sector.
In a note of reaction, the analysts of Euroland evoke half-yearly results ‘in line’, while raising their objective of course on the title of 6.6 to 7.6 euros, with a recommendation maintained with the purchase.
In its press release, Memscap expresses the ambition to maintain the trend initiated in the first half of 2023 and to confirm its ‘profitable hyper-growth’ profile.
The title – which is evolving at historic highs – is paying 23.3 times the estimated results for 2023 against an average of 19.7 times for the French technology sector.
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