Q3 results suggest a fairly robust trading outlook into the year end and an improving margin profile. However, the progress the agency division is making is somewhat overshadowed by the disappointing results from Next Audience. With this division's planned divestment, the underlying c 50% discount of the FY16 P/E rating to its peers will become more evident.
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Margin improvement
- Published:
16 Jul 2015 - Author:
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Q3 results suggest a fairly robust trading outlook into the year end and an improving margin profile. However, the progress the agency division is making is somewhat overshadowed by the disappointing results from Next Audience. With this division's planned divestment, the underlying c 50% discount of the FY16 P/E rating to its peers will become more evident.