Frontier reported a robust set of results this morning with revenue growing by more than 160% and operating profit by nearly 600%. Headline estimates were slightly ahead of expectations which we view as priced-in given management’s historical conservatism and shares’ +30% move since a recent trough on 7 August. With consensus unlikely to move materially (given limited information on Frontier Publishing and expectations managed over Planet Zoo), we remain Neutral.
04 Sep 2019
FY19 slightly ahead; consensus unlikely to change
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FY19 slightly ahead; consensus unlikely to change
Frontier Developments Plc (FDEV:LON) | 207 0 0.0% | Mkt Cap: 81.7m
- Published:
04 Sep 2019 -
Author:
Kartik Swaminathan -
Pages:
2
Frontier reported a robust set of results this morning with revenue growing by more than 160% and operating profit by nearly 600%. Headline estimates were slightly ahead of expectations which we view as priced-in given management’s historical conservatism and shares’ +30% move since a recent trough on 7 August. With consensus unlikely to move materially (given limited information on Frontier Publishing and expectations managed over Planet Zoo), we remain Neutral.