Redeye: Mr Green - A record year in the making

MRG presented yet another solid quarter with both net sales and profits almost spot-on our projections. The marketing push during Q2 seems to have, as we thought it would, paid off and the company grew their revenue organically by 27.8% in local currencies. We believe that MRG will end the year in high fashion, and project a continued strong growth during Q4. We have made some minor forecast adjustments due to the continued improved marketing efficiency and raise our Base-case valuation slightly. We continue to view MRG as attractively valued.

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This is a press release from Redeye - Research Powered Investment Banking.