The Group has released a trading statement detailing that the underlying financial performance to March 2019 was ahead of market expectations, largely following a strong Corporate performance. A mix shift towards the more profitable card business, though, means that the recognition of these earnings will be deferred until FY20. As such, FY19 PBT is expected to be below current consensus, though the cash flows remain unchanged.
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Underlying trading ahead; FY20 investment
- Published:
30 Apr 2019 -
Author:
Michael White -
Pages:
2
The Group has released a trading statement detailing that the underlying financial performance to March 2019 was ahead of market expectations, largely following a strong Corporate performance. A mix shift towards the more profitable card business, though, means that the recognition of these earnings will be deferred until FY20. As such, FY19 PBT is expected to be below current consensus, though the cash flows remain unchanged.