CALL’s solid FY’17 results continue to underpin our conviction. Growth continues at pace in all regions assisted by rising internal efficiency while the outlook statement points to management confidence, good momentum on product development and support from regulatory trends. While we have cut our FY’18E numbers on accelerated investment in growth (and FY19-20E on lower R&D credits – see detail inside), we view management’s FY19E aspiration of ~break-even and
20 Mar 2018
Solid FY’17 but cutting FY’18E EPS on higher investment
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Solid FY’17 but cutting FY’18E EPS on higher investment
- Published:
20 Mar 2018 -
Author:
Kartik Swaminathan -
Pages:
5
CALL’s solid FY’17 results continue to underpin our conviction. Growth continues at pace in all regions assisted by rising internal efficiency while the outlook statement points to management confidence, good momentum on product development and support from regulatory trends. While we have cut our FY’18E numbers on accelerated investment in growth (and FY19-20E on lower R&D credits – see detail inside), we view management’s FY19E aspiration of ~break-even and