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24/01/20
15:24
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Originally posted by woogiee:
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encouraging guidance in the last paragraph... looks like they're tracking ahead of the last forecast generation by about 40-60M, revenue in line with forecast (150 yearly) , will be interesting to see if their EBITDA is affected by this, as they remained silent on forecast for it, so it's possible it's not tracking exactly to forecast - may be over or under...? it's a wild guess either way, but I'm hoping they took conservative approach to the reforecast
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There is no FY20E upgrade implied here. Importantly, no downgrade given this is the typical pattern that emerges with an initial downgrade dynamic. 1H20 results imply weak growth 2H20E to deliver full year estimates of: Originations $626 - $640m Revenue >$150m Could be read as potential for outperformance come Aug results