After three quarters with outflows in assets under management equivalent (AUME), Record reported a modest inflow in its first quarter ($0.3bn) and the number of clients also ticked up. Competitive pressures remain a feature but the group is countering this with its focus on innovation and service enhancement. The breadth of new business opportunities is encouraging. A combination of sterling weakness and mix changes has led us to revise estimates, with EPS increases of 9% and 8% for this year
25 Jul 2019
Record - FX, inflow and mix changes prompt earnings upgrade
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Record - FX, inflow and mix changes prompt earnings upgrade
Record plc (REC:LON) | 61.1 -1.7 (-4.4%) | Mkt Cap: 121.6m
- Published:
25 Jul 2019 -
Author:
Andrew Mitchell -
Pages:
5
After three quarters with outflows in assets under management equivalent (AUME), Record reported a modest inflow in its first quarter ($0.3bn) and the number of clients also ticked up. Competitive pressures remain a feature but the group is countering this with its focus on innovation and service enhancement. The breadth of new business opportunities is encouraging. A combination of sterling weakness and mix changes has led us to revise estimates, with EPS increases of 9% and 8% for this year