As highlighted in Share plc’s April’s trading statement, market conditions were challenging in H115, compounded by management’s decision to take inevitable pain from stopping trail commissions earlier than some peers. Despite the latter, it still took record market share of revenue and it also tightly controlled operating costs. There are a number of market and company-specific opportunities to show growth, giving some upside to our conservative assumptions and valuation (now 31p).

29 Jul 2015
Difficult H115, but outlook still promising

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Difficult H115, but outlook still promising
- Published:
29 Jul 2015 - Author:
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As highlighted in Share plc’s April’s trading statement, market conditions were challenging in H115, compounded by management’s decision to take inevitable pain from stopping trail commissions earlier than some peers. Despite the latter, it still took record market share of revenue and it also tightly controlled operating costs. There are a number of market and company-specific opportunities to show growth, giving some upside to our conservative assumptions and valuation (now 31p).