Brooks Macdonald has reported a positive Q2 update. FuM grew by 7% to £11.7bn from impressive net inflows (16% annualised). We do not expect to make material changes to our forecasts but will look to update for the Q2 FuM outturn. We continue to see value in the shares with a 13x Jun-19 PER despite attractive earnings growth on both our estimates and consensus. We reiterate our BUY recommendation.
24 Jan 2018
7% growth in FuM on strong flows, in line
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7% growth in FuM on strong flows, in line
Brooks Macdonald Group plc (BRK:LON) | 1,832 91.6 0.3% | Mkt Cap: 301.3m
- Published:
24 Jan 2018 -
Author:
Andrew Watson -
Pages:
3
Brooks Macdonald has reported a positive Q2 update. FuM grew by 7% to £11.7bn from impressive net inflows (16% annualised). We do not expect to make material changes to our forecasts but will look to update for the Q2 FuM outturn. We continue to see value in the shares with a 13x Jun-19 PER despite attractive earnings growth on both our estimates and consensus. We reiterate our BUY recommendation.