Today’s interims highlight the reality of highly competitive market conditions and headwind of accelerating DX Exchange decline that has severely squeezed returns and ultimately driven the £88m write-down in value. Short term, the extent of H116 profit decline and the meaningful uplift needed to bridge to market estimates for FY16 appear to be dominating sentiment resulting in further share price volatility.
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H116 results
- Published:
29 Feb 2016 -
Author:
Ben Thefaut -
Pages:
3
Today’s interims highlight the reality of highly competitive market conditions and headwind of accelerating DX Exchange decline that has severely squeezed returns and ultimately driven the £88m write-down in value. Short term, the extent of H116 profit decline and the meaningful uplift needed to bridge to market estimates for FY16 appear to be dominating sentiment resulting in further share price volatility.