In-line FY results to 31 December 2019 with underlying operating profit of £2.5m, ahead of our £2.1m estimate as admin expenses are controlled. Dividend remains, up 5%. Target price also remains: we recognise market-driven AUM downside, but draw attention to the defensive AUM, down just 5.6% at 31 March.
21 Apr 2020
Frenkel Topping - Demonstrating steady returns from a solid team
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Frenkel Topping - Demonstrating steady returns from a solid team
Frenkel Topping Group plc (FEN:LON) | 51.0 0 0.0% | Mkt Cap: 65.3m
- Published:
21 Apr 2020 -
Author:
Cavendish Research -
Pages:
16
In-line FY results to 31 December 2019 with underlying operating profit of £2.5m, ahead of our £2.1m estimate as admin expenses are controlled. Dividend remains, up 5%. Target price also remains: we recognise market-driven AUM downside, but draw attention to the defensive AUM, down just 5.6% at 31 March.