The FY18 results were disappointing, with profits coming in below forecasts. Guidance has been reduced, with headwinds in the retail sector prompting management to take a more prudent view on the pipeline conversion rate and the time taken for contracts to go live. Our EPS forecasts are reduced by 13% and 15% in FY19 and FY20. Despite these reductions, we expect the Group to continue to grow rapidly, driven by the ongoing growth trend in online retail. Near term forecasts should also benefit fro ....
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Share price reaction overdone
- Published:
01 Aug 2018 -
Author:
Greg Poulton -
Pages:
3
The FY18 results were disappointing, with profits coming in below forecasts. Guidance has been reduced, with headwinds in the retail sector prompting management to take a more prudent view on the pipeline conversion rate and the time taken for contracts to go live. Our EPS forecasts are reduced by 13% and 15% in FY19 and FY20. Despite these reductions, we expect the Group to continue to grow rapidly, driven by the ongoing growth trend in online retail. Near term forecasts should also benefit fro ....