Vantiva’s Q1 trading update shows the group is on track to meet FY23 guidance, with a strong performance from the larger Connected Home (CH) segment (80% of Q123 revenue), and a more difficult trading backdrop for Supply Chain Solutions (SCS). CH’s revenue was up 8.7% on Q122 at constant currency (ccy), with good growth in North America and double-digit progress in Europe and Latin America driven by improved supply conditions and growing market share. SCS’s revenue retrenched 25.4%, weighed down by delays in releases by the major studios. Our forecasts are unchanged, and the shares still sit well below our DCF valuation.
28 Apr 2023
Vantiva - Good broadband growth supports FY23 prospects
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Vantiva - Good broadband growth supports FY23 prospects
Vantiva’s Q1 trading update shows the group is on track to meet FY23 guidance, with a strong performance from the larger Connected Home (CH) segment (80% of Q123 revenue), and a more difficult trading backdrop for Supply Chain Solutions (SCS). CH’s revenue was up 8.7% on Q122 at constant currency (ccy), with good growth in North America and double-digit progress in Europe and Latin America driven by improved supply conditions and growing market share. SCS’s revenue retrenched 25.4%, weighed down by delays in releases by the major studios. Our forecasts are unchanged, and the shares still sit well below our DCF valuation.