Share's full-year results were similar to our expectations with revenue growth of over 12%, despite the equity market downturn in the final quarter. The group is now drawing to the end of its investment programme to achieve a digital transformation and has succeeded in making further acquisitions to gain greater scale. With a pipeline of further transactions and full benefits of its IT spend still to come, earnings should respond in a geared fashion, reducing the current high earnings multiples substantially on a medium-term view.Den vollständigen Artikel lesen ...
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