Headline numbers do not look flash, but there are a few items of details that suggest that the result may not be as bad as first thought:
- 18% increase in operating cash flows, with EBITDA conversion of over 100%.This would have been materially higher if not for the timing of settlement of balance owing from the sub contractor in ECM
- Increase in subscription billing to 61%.
- Satisfactory performance in all business units except for Trapeze - with changes sales models being evaluated
- FY19 outlook likely to deliver significant margin expansion
I think that this may provide an opportunity to buy into a well run business that has shown over time the ability to continue to deliver shareholder value.
Ann: FY2018 Trading Update, page-2
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Last
$15.15 |
Change
-0.140(0.92%) |
Mkt cap ! $1.442B | |||
| Open | High | Low | Value | Volume |
| $15.25 | $15.32 | $15.04 | $332.6K | 21.85K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 144 | $15.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.20 | 124 | 1 |
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