FDM’s announcement of 2018 results provides additional granularity to the January trading update, and the overall tone remains uniformly upbeat. Highlights include strong growth in multiple geographies, customer diversification and significant investment in platform and scale. We nudge up revenue estimates for FY19 and FY20, but leave profit unchanged and trim cash forecasts to reflect working capital flows. We reiterate our Buy recommendation and our unchanged Target Price of 1050p.
....06 Mar 2019
Firing on more cylinders
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FDM Group (Holdings) plc (FDM:LON) | 328 -8.2 (-0.8%) | Mkt Cap: 360.1m
- Published:
06 Mar 2019 -
Author:
Gareth Evans -
Pages:
7
FDM’s announcement of 2018 results provides additional granularity to the January trading update, and the overall tone remains uniformly upbeat. Highlights include strong growth in multiple geographies, customer diversification and significant investment in platform and scale. We nudge up revenue estimates for FY19 and FY20, but leave profit unchanged and trim cash forecasts to reflect working capital flows. We reiterate our Buy recommendation and our unchanged Target Price of 1050p.
....