Kin & Carta’s FY19 results have come in line with expectations at the net revenue and PBT level. We see this as being as a positive step for the company following the downward revision to earnings in recent months, though we reiterate our view that the next material piece of newsflow will be crucial towards restoring faith amongst investors, and ultimately initiating a re-rating. On a 12m view, we remain buyers, seeing fair value at 100p.
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FY19 results – first take
Kin & Carta’s FY19 results have come in line with expectations at the net revenue and PBT level. We see this as being as a positive step for the company following the downward revision to earnings in recent months, though we reiterate our view that the next material piece of newsflow will be crucial towards restoring faith amongst investors, and ultimately initiating a re-rating. On a 12m view, we remain buyers, seeing fair value at 100p.