GFT's shares have fallen sharply recently, tracking a steep fall in Deutsche Bank’s shares, along with broad declines across the banking sector. We note that Deutsche Bank generates c 40% of GFT’s revenues. At the time of the Q3 results, GFT said it expects stable revenues from Deutsche in FY16, with the growth coming from other parts of the business. GFT is on Deutsche’s strategic partner list, and GFT handles complex IT projects for Deutsche, along with maintenance of its
11 Feb 2016
De-rating provides an opportunity
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De-rating provides an opportunity
GFT's shares have fallen sharply recently, tracking a steep fall in Deutsche Bank’s shares, along with broad declines across the banking sector. We note that Deutsche Bank generates c 40% of GFT’s revenues. At the time of the Q3 results, GFT said it expects stable revenues from Deutsche in FY16, with the growth coming from other parts of the business. GFT is on Deutsche’s strategic partner list, and GFT handles complex IT projects for Deutsche, along with maintenance of its