Wizz Air announce measures to limit coronavirus impact
Wizz Air Holdings (LON:WIZZ) have told the market that they have taken some precautionary measures to limit the impact of the coronavirus.
Last week, British stocks faced a bruising after reports suggested that the coronavirus was in the UK and also had reached Italy.
There was no surprise that airline stocks had received the largest beating, with rivals such as IAG (LON:IAG) and easyJet (LON:EZJ) shedding volumes of their stock prices.
Wizz Air, who are a FTSE 250 listed firm today have announced measures that could mitigate the virus impact – as the airline industry faces another few months of tough trading.
Wizz Air noted that they have adjusted their travel schedule from March 11 to April 2 – with the main alterations being made in flights to and from Italy.
Measures have included cutting overhead and discretionary spending significantly, as well as leveraging staff across its network so as to pause recruitment along with “non-essential travel”.
Wizz Air added tat they are working with suppliers to reduce costs, and have speculated over further adjustments to network capacity in the magnitude of 10% in the first quarter of its financial year.
József Váradi, Wizz Air Chief Executive commented:
“Our ever-disciplined attitude to cost enables Wizz Air to partly offset some of the headwinds due to the COVID-19 outbreak, which have driven a temporary decline in demand and an increase in the cost of disruption as we put the well-being of passengers and crew first.
Wizz Air’s ultra-low cost business model and our strong balance sheet and liquidity provide a solid foundation and a significant competitive advantage in the current challenging environment for airlines, making us a structural winner in the aviation sector in the long term.
We are uniquely positioned for long-term value creation as Europe’s lowest cost, lowest emission airline and the market leader in the growing CEE market. The continuous rollout of the game-changing A321neo aircraft means that we will enjoy further cost improvements, while also ensuring Wizz Air is the most environmentally friendly choice of air travel for our passengers. We will continue to drive profitable growth in order to achieve one of the highest profit margins in the industry.”
The budget airline also noted that it was difficult to quantify the current impact of the coronavirus on their next financial year, however the firm added ‘we remain confident that as the situation normalizes, Wizz Air will continue its highly successful trajectory’.
Wizz Air concluded by saying that the firm will provide a pre-close year end trading statement ahead of the Company’s full year close period.
Hostelworld shares crash 10% following coronavirus speculation
Hostelworld Group PLC (LON:HSW) have seen their shares crash on Wednesday following speculation over the coronavirus impact.
The hostel booking firm cut its payout as earnings also fell, whilst adding that the ongoing coronavirus issues have caused treading to decline.
Hostelworld said that across 2019, revenue was 1.7% lower from €82.1 million to €80.7 million. Additionally, pretax profit also slumped to €3 million from €6.7 million.
Looking at costs, Hostelworld noted that administrative expenses climbed by 2.4% to €63.4 million from €61.9 million – which will leave a sour taste in the mouths of shareholders.
The firm did pay a full-year dividend of 6.3 euro cents per share – however this saw a massive drop of 54% from 13.8 cents in 2018.
Net bookings also dropped 4.8% o 6.6 million from 7.0 million reported in 2018, but on a slightly better note average booking value rose 2.8% from €11.64 to €11.97.
Gary Morrison, Chief Executive Officer, commented: “Following the group’s return to growth in 2019, I see significant opportunities to build a broader catalogue of experiential travel products beyond hostel accommodation. These types of experiences may include opportunities to study, work or volunteer abroad, with hostel stays featuring as part of an extended itinerary. Our research would also suggest that this market is very fragmented, with many different marketplaces and business models.
With the group’s deep knowledge of experiential travellers built up over 20 years, our trusted brand, and a loyal and relevant customer base, I believe we are uniquely positioned to help both our existing customers and new experiential travellers Meet the World® together with other like-minded travellers. To execute this strategy, the Group has increased its focus on potential M&A opportunities in the past six months and built an extensive pipeline of potential targets.
Overall, the Group sees significant potential for the further deployment of capital to enhance future growth through both organic and inorganic investment opportunities. As a result, the Board has taken the decision to rebase the dividend policy. A rebased progressive dividend with a pay-out of between 20-40% of Adjusted Profit After Tax will enable investment in organic and inorganic opportunities which should see shareholder return increase in the medium to long term.”
Hostelworld speculated over the impact of the coronavirus on future business, adding that trading had been affected.
There was a note that bookings had seen reduction and that its’ full year earnings before interest, tax, depreciation and amortisation could take a bruising between €3 million and €4 million.
Hostelworld commented: “While we entered 2020 with positive momentum, trading since late-January has been challenged by the outbreak of the COVID-19 virus which is having a significant impact on global travel demand, within Asian markets and more recently within the European market. As the Coronavirus has spread from region to region, we have observed a material reduction in bookings and an increase in marketing cost as a percentage of net revenue.
This has been driven by a significant reduction of bookings from free channels, an increase in longer lead time cancellations across all channels and an increase in investment in paid channels to partially offset the bookings decline in free channels. Given that the depth and duration of the virus outbreak is impossible to forecast at this time, we are unable to calibrate its effect for the balance of the year … With continued tight cost control and our strong cash generative characteristics, the Group remains resilient in volatile market conditions.”
Shares in Hostelworld trade at 94p (-10.48%). 4/3/20 11:03BST.
Legal & General see assets under management rise across 2019
Legal and General Group Plc (LON:LGEN) have seen steady progress across 2019, as evidenced in their final results published today.
The insurance firm reported a rise in assets under management on Wednesday, which has led to shares in green.
Looking at the figures, Legal and General reported that 2019 pretax profit was £2.16 billion – seeing a 1.3% jump from £2.13 billion reported in 2018.
Notably, this figure fell below company compiled market consensus which expected pretax profit to be around £2.29 billion.
On a better note, gross written premiums also surged 18% from £12.84 billion in 2018 to £15.2 billion.
Assets under management also rose for Legal and General – with this metric rising 18% to £1.196 trillion from £1.016 trillion at the start of the year.
In Legal and General’s retirement unit, the firm reported operating profit of £1.57 million, a slight rise of 1.4% compared to 2018.
In their Investment Management division, the firm saw operating profit jump 3.9% to £P423 million.
Finally, in their Insurance operations – operating profit rose 2% to £314 million.
Following the steady set of results, the firm increased its dividend to 17.57 pence per share from 16.42p in the year prior.
Nigel Wilson, Group Chief Executive commented: “Legal & General’s strategy of Inclusive Capitalism, underpinned by structural growth drivers, has enabled us to achieve our five year EPS growth ambition in four years, growing 58% since 2015.
Our five growing, profitable and increasingly international businesses compete in attractive, growing markets and work together to deliver economically and socially useful customer solutions. Society’s increasing focus on net zero carbon, ESG investing and levelling up through investment in all regions plays to our strengths, creating future growth opportunities.
Having delivered EPS growth of 16% to 28.7p, dividends up 7% to 17.57p, and a 20% plus ROE, we are well-positioned for the future and we remain ambitious.”
The firm gave shareholders a confidence sentiment going forward, adding: “Our strategy and growth drivers have yielded reliably strong returns, both dividend and ROE, for our shareholders and we are confident they will continue to deliver growth into the future as we execute on our strategy based on inclusive capitalism.
Our confidence in future growth and dividend paying capacity is underpinned by the Group’s strong balance sheet with £7.3 billion in surplus regulatory capital and significant buffers to absorb a market downturn. We have a proven operating model which is reinforced by robust risk management practices”.
Shares in Legal and General Group trade at 268p (+1.17%). 4/3/20 10:44BST.
US Election: Joe Bidens’ Super Tuesday
Following one of the biggest days across the US Election, Super Tuesday has now given the US electorate a clearer picture on the state of play.
Super Tuesday is one of the biggest days in the US Election year, as 14 states all carry out their respective primary and caucuses to elect their party nomination.
Last week, I wrote about how Bernie Sanders could be the main challenger to Donald Trump in November – however he faced tough competition from candidates such as Michael Bloomberg and Joe Biden.
Sanders is certainly grabbing the attention of global political media, and before Tuesday he looked like the favorite to win the Democrat higher nomination.
Following Super Tuesday, the US Election has now taken its path for the next few months.
For the Democrat Party, the race has now become a two horse one – between Bernie Sanders and former Vice President Joe Biden.
Biden won eight out of fourteen states last night, and these were particularly where Democrat states held primaries. Biden massively outperformed expectations, and has certainly stampeded his influence on this election cycle.
Biden notably won the states in the American South, and additionally won Massachusetts, Minnesota and Texas – three states where was expected to drop off.
One of his biggest wins was in California, where he won the support of voters through his liberal agenda with a slight right wing theme – which proved a massive success.
The Democrat Party are seemingly now embracing the thought of Biden running against Trump in November – looking at his experience and reputation, one cannot argue with both the breadth and depth of experience and positions that he has held.
“For those who have been knocked down, counted out, left behind, this is your campaign. Just a few days ago, the press and the pundits declared the campaign dead.” – Biden said in Los Angeles.
There is no doubt that Sanders still holds some high ground against Biden – as mentioned previously Sanders has managed to connect with younger voters, both groups which are college educated and those that are not.
The US younger generation seem to want away from Trump – and the policies of big government and social reparation are the main headlines of Sanders election campaign.
“Tonight, I tell you with absolute confidence we’re going to win the Democratic nomination,” Sanders said in his home state of Vermont.
Both candidates do have their credentials, however the next few weeks will now be important to see which direction this US Election goes.
Both Biden and Sanders will keep in mind that they do have to win voters, but more importantly party internals – and this could be the swinging factor in deciding who runs against Trump in November.
Polymetal report higher revenues in 2019, driven by rising commodity prices
Polymetal International PLC (LON:POLY) have given shareholders a strong set of final results on Wednesday morning, which has led to shares receiving a boost.
Shares in Polymetal International trade at 1,284p (+1.42%). 4/3/20 10:01BST.
The firm noted that revenue was significantly higher across 2019, following rising commodity prices.
Polymetal said that revenue had spiked 20% across 2019 to $2.25 billion, and this was driven by the rice of average realized gold rising 13%. Gold sales also rose 14% to 1.4 million ounces, the firm added.
Silver sales did see a 14% slip however, totaling 22.1 million ounces – but average realized silver price climbed by 11%.
Net earnings for the firm was valued at $483 million, as basic earnings per share increased by 31% to $1.02.
Going forward, the firm has guided for 1.6 million ounces gold equivalent for 2020 and 2021 – and Polymetal expects results to second half weighted.
Cash costs are expected to be between $650 and $700 per gold equivalent ounce while all-in sustaining cash costs are forecast at $850 to $900 per gold equivalent ounce.
The firm proposed a final dividend per share of $0.42, giving an annual total of $0.82 – a 71% climb from the metric one year ago.
“We are pleased to report record earnings and solid free cash flow for the year underpinned by a robust operating performance and strong commodity prices”, said Vitaly Nesis, Group CEO of Polymetal, commenting on the results. “We have also advanced our key strategic projects, reduced net debt and paid substantial dividends”.
Polymetal announce board changes
In a separate update published today, Polymetal also announced that Non-Executive Directors Christine Coignard and Jean-Pascal Duvieusart will not seek re-election at its upcoming annual general meeting. As a result, Andrea Abt hasbeen appointed to Polymetal’s board as a non-executive director. Ian Cockerill, Board Chair, commented: “I am thankful to Christine and Jean-Pascal for their contribution to the Company’s success. As the Chair of the Remuneration Committee, Christine has been pivotal in shaping Polymetal’s governance and remuneration practices. Congratulations to Jean-Pascal on his new role and I appreciate that it is no longer possible to continue as a non-executive Director. I am also glad to welcome Andrea, an inspired professional with diverse and successful executive and directorship track record. She brings crucial skills for Polymetal of supply chain management and successful implementation of IT transformation.”Anglo American see diamond sales fall across second 2020 sales cycle
Anglo American plc (LON:AAL) have told the market that diamond sales have fallen across its’ second sales cycle in 2020.
The firm noted that the ongoing wave of coronavirus may have played a part in the declining sales, however shares have seen a lift on Wednesday.
Across their second 2020 cycle, Anglo American said that the value of rough diamond sales totaled $355 million.
This figure notably sees a 28% fall from $496 million versus a year ago, and down 36% from $555 million for the first cycle of 2020.
Bruce Cleaver, CEO of De Beers Group, said: “Following an improvement in demand for rough diamonds during the first sales cycle of 2020, we recognised the impact of COVID-19 Coronavirus on customers focused on supplying the Chinese market and put in place additional targeted flexibility to enable customers to defer allocations of the relevant rough diamonds.”
Anglo American start 2020 in steady fashion
A fortnight ago, Anglo American saw a steady set of fundamentals posted across their 2019 results. The mining titan told the market that earnings had risen across 2019, however warned shareholders that trading could be hampered by tense US-China relations and the current coronavirus outbreak. Anglo American said that revenues had jumped 10% to $29.87 billion, as underlying earnings before interest, tax, depreciation and amortisation up 9.2% to $10.01 billion. Profit attributable to equity shareholders was lower at $3.55 billion, but Anglo American decided to increase their dividend by 9% to 1.09 cents from 1.00 cents per share. The firm noted that De Beers’ rough diamond production fell by 13% to 30.8 million carats, with copper production falling by 4.5% to 638,000 tonnes. For 2020, production guidance is 32 million to 34 million carats, which means that the firm is expected a 10% jump in 2020. The miner cited an “expected increase in ore from the final open-pit cut at Venetia”. 0 Metallurgical coal production rose by 5.0% to 22.9 million tonnes but at thermal coal, total export production decreased by 7.7% to 26.4 million tonnes. Additionally, platinum group metals output fell 1.5% lower to 2.1 million ounces. Shares in Anglo American trade at 1,943p (+2.13%). 4/3/20 9:53BST.Sustainable Investment vs Coronavirus: stay the course & think long-term
Coronavirus hasn’t yet had its fill of using equities, assets and national economies as chew toys, and will almost certainly weigh on people and capital the world-over, for a good chunk of 2020.
One asset class I can’t help but feel sorry for (in the midst of the biggest dips since 2008) are sustainable and ethical investments, for instance in renewables.
These fields have enjoyed consistent success, especially over the last five or so years; as renewable assets, ESGs and Impact Investment funds have all become mainstream structures and business vernacular. What Coronavirus represents, perhaps, is the first reckoning for this asset class (if you’ll let me clumsily incorporate them under one umbrella).
Bringing up the spread of the illness in a conversation with JLEN Environmental Assets (LON:JLEN) Co-Lead and Investment Advisor, Chris Tanner, his hollow chuckle was palpable.
Tanner was by-and-large positive about the position of renewable assets, at least in comparison to forecasts for other assets and equities. Overall, he saw the challenges posed to renewables coming by way of supply-side issues – as opposed to the value of commodities, which directly correspond to market sentiment and risk.
For JLEN, perhaps these supply-side challenges come in the form of materials and manufactured hardware for their portfolio – which is largely UK-based. However, this is not the case with all sustainable investment offerings.
Impact Investment app Tickr, for instance, enables users the chance to invest in renewables assets based all over the world (among other asset classes). Their users have felt the heat of COVID19 more acutely, with some of the companies they support having operations in high-risk countries such as China.
Acknowledging the challenges posed by Coronavirus, and being wary of the substantial hit to its users’ earnings, Co-Founder Matt Latham offered the following words of comfort via a letter to investors:
“Seeing your money drop in value can feel uncomfortable. But with long-term investing it’s important not to focus too much on the short-term noise.”
“The market goes up and down each day. No one knows where it will be tomorrow. However, what history can tell us is that so far, 100% of corrections and crashes have always been followed by a recovery that comfortably offsets those losses.”
“[…] Even if you had invested in the US Stock Market (the S&P 500 to be exact) in the weeks prior to the 2008 crash (the largest financial crash since 1930), in the 10 years following you would’ve netted a +7-8% average annual return. That’s not bad going seeing as the 2008 crash wiped out ~50% of value from the S&P 500.”
What we can perhaps take away from this, is that we should perhaps temper our emotions and stay the course.
Sustainable investment is facing challenges like every other sector, but its natural tendency towards long-term holdings gives investors the opportunity to sit tight for now, and wait for sunnier skies in the months and years to come.
After enjoying impressive returns of around 7.12% over the three months to February, I’ve personally seen my Tickr portfolio’s growth narrow to 1.12%. Clean Energy is down 11.31% and Global Water by 11.64% this week alone, as the Coronavirus tightens its grip.
Regardless, I will echo Chris Tanner’s optimism, and Matt Latham’s advice. I think we need to be patient. It is better, in my opinion, to weather the storm in a long-sighted asset class, then flock worriedly to one investment or another, or capitalise on others’ losses.
Can investing in fine wine see us through market uncertainty?
Last week the UK Investor Magazine attended the OenoFuture investor evening, which treated guests to a wine tasting, masterclasses and a seminar on fine wine investment delivered by wine expert and Oeno CEO, Daniel Carnio. Set against the jolly backdrop of aperitivo and the City skyline, the message at the core of the event was entirely serious. We ought to think more about wine as part of a healthily diversified portfolio, and appreciate its potential as a tool to circumvent market dips.
General notes on fine wine investment
Giving attendees a rough overview of the investment wine space, Daniel told us only 1% of all wine globally contains the necessary characteristics to be considered investment wine. While naturally trying to create a positive impression of the field, he described fine wine as an ‘alternative investment’. Not a field to be invested in exclusively, but rather as one part of a healthy spread of investments. He then reiterated the advice of renowned business magnate Warren Buffett, who said at least 1% of everyone’s portfolio should be in wine. At the end of his presentation, Daniel reminded us of the very real demand for fine wine investment, and the presence of high net worth individuals ready to pay a premium for the right bottles. He cited the sale of one bottle in particular: a 1777 Chateau Lafite from the Jefferson collection, which sold for over a quarter of a million pounds.Why does wine investment attract sophisticated palates?
According to OenoFuture, the main attractions of wine investment are threefold. First – wine collection lets you keep more of your gains. Unlike some other forms of investment, wine collections aren’t taxed, and the profits accrued from collecting wine are exempt from tax in many countries. Second – it has offered reliable growth in recent years. Aside from the bounce caused by high-net-worth Chinese investors entering the market at a rapid pace, the last decade or so has seen fine wine investments appreciate by around 10% per annum. During 2018, OenoFuture reported that its Private Investor accounts yielded average returns of 11.93%. Third – it lets us escape the risks that affect most equities and conventional asset classes. Now more than ever, this characteristic makes wine investment appear like a particularly virtuous asset. While other sectors are dragged or fuelled by market corrections and rallies, the success of fine wine is dictated by the simple tenets of supply and demand. It might seem intuitive, then, to think that consistent appreciation in fine wine prices over time is only natural. Save for a sudden decline in demand for wine consumption or collectability, the steady decline in stocks of any particular bottle of wine correlates directly to an increase in its respective value. In a succinct summary on its website, OenoFuture states: “Against a backdrop of market turbulence and uncertainty, the fine wine market has performed exceptionally in recent years. Since 2005 fine wine has seen growth of 198%, making it a very attractive safe haven for investors keen to diversify their portfolio.”Being on the nose: what is the OenoFuture user experience?
The company stated that its standard investment ranges sit around the £10k, £25k and £50k marks, for different sizes and time frames of wine collections. At the lower threshold, the company said £10k covers an entry level diversified portfolio. The aim of this kind of undertaking would be to provide returns over the short-to-medium term, which Daniel Carnio estimated would be between one to three years. At the £25k and £50k levels, Daniel said the company would look to introduce ‘iconic’ wines to an investor’s portfolio. At this level, we can assume there is scope for long-term holdings, with offerings targeted towards attracting buyers willing to pay above market rates for the right bottle of wine. Regarding the nitty gritty practicalities of the company, OenoFuture said all wine collections are stored in a bonded warehouse, and should any misfortune befall your bottles, insurance payouts cover the cost of the wine at the point of damage (with price appreciation), not the original purchase price. Finally, Daniel outlined the company’s attractive fee structure. OenoFuture takes no upfront fee. In exchange for its individually tailored advisory services it only takes 10% of any profits made at the point of liquidation. Coming away from the evening, I got the impression that wine investment isn’t just a quaint idea, but an effective way to diversify a portfolio and counteract the risks posed by mainstream market mechanisms. Investing with OenoFuture means we only pay fees when we win, and even if we’re faced with abject failure, drinking your investment will at least help us forget momentarily.Impromptu Fed rate cut compensates for lack of G7 Coronavirus action plan
Best satirised by the FT, the G7 meeting today was all bun and no filling. Some of the brightest and best minds in economics convened to devise a plan of action to deal with the crippling effect Coronavirus has had on equities and national economies the world-over. It’s fair to say the outcome was about as underwhelming as the Reuters preliminary reports (TSE:TRI) had anticipated, and J. Powell fired an unoriginal shot in anger, by way of a Fed rate cut.
The rate cut came as something of a post facto justification for yesterday’s absurd Dow Jones rally (absurd in its scale, and its lack of empirical basis) and acted as something of a lukewarm salve for today’s G7 meeting. The interesting thing to note, in particular, was the fact the cut had such a proportionately underwhelming effect, which would lead us to believe it was more about trying to cement the ground already gained, rather than trying to auspiciously search for a second, similar rally.
Powell’s hand was likely forced by Trump, and while most indices were happy to at least cling on to some of their gains, the FTSE continued to giddily recover from last week’s horror show.
Speaking on Coronavirus and the afternoon’s movements, Spreadex Financial Analyst Connor Campbell commented,
“It looked like the G7’s brightest and best financial minds had failed to deliver – and then the Federal Reserve went and announced an impromptu rate cut.”
“After a conference call between its central bankers and finance ministers – they daren’t actually meet in person, duh – the G7 issued a statement, via Jerome Powell and Steven Mnuchin, reaffirming the group’s commitment to combating the coronavirus without actually announcing any concrete measures.”
“It looked like that was all the markets were going to get – disappointing, yet pointing well enough in the right direction to broadly preserve the day’s gains.”
“But Powell had an ostensible ace up his sleeve. His arm no doubt twisted by a dovish Donald Trump, the Fed slashed interest rates by half a percentage point to 1%-1.25%, taking the number of FOMC cuts to 4 since July last year.”
“The Dow Jones didn’t actually move that much higher after the announcement. Instead it largely just reversed its triple digit decline, at best climbing another 0.3%. That’s because the rate cut is more justification for yesterday’s record-breaking rebound than an impetus for a fresh surge this Tuesday.”
“As for Europe, the region’s indices remained off their intraday highs despite the Fed intervention. It might simply be that anything other than a co-ordinated action plan from the G7 was going to disappointment, especially following the Dow’s insane gains on Monday night. Then there’s the fact the pound and euro are now both up around 0.4% against the dollar.”
“The rate cut may have also acted as a reminder of just how serious the coronavirus situation is, with multiple stats – worst week since 2008, first emergency cut since 2008 – that harken back to the dark days of the financial crisis.”
“Regardless the FTSE rose 1.9%, leaving it around 70 points shy of its 6850 peak. The DAX was up 200 points, half of its morning rise, while the CAC added 1.8%.”
Craneware books strong first half led by 30% growth in ‘new sales’
Value Cycle software solutions for the US healthcare market Craneware (LON:CRW) saw its earnings jump during the first half of 2020, led by a 30% year-on-year rise in ‘new sales’.
Despite the fact that its revenues were almost flat at $35.9 million, its adjusted EBITDA bounced 10% on-year, to $12.7 million, and its PBT rose 3% to $9.6 million.
Likewise, Craneware shareholders enjoyed similar progress during H1 2020. Its adjusted basic EPS increased 3% to 31.1 cents per share, while its interim dividend grew by an impressive 5% year-on-year, up to 11.5p per share.
The company added that operationally, its new cloud Trisus solutions accounted for 10% of new sales. It also said that it saw an increase in the total value of renewals and that it enjoyed, “strong sales activity and opportunities across all classes of hospital providers”. It finished, saying its investment in research and development had risen from $9.1 million to $10.3 million on-year for the first half.Craneware reaction
Responding to the company’s performance, company CEO Keith Neilson commented:“We are pleased to report on a positive sales performance in the first half of the financial year, with new sales over 30% ahead of the first half in the prior year, reflecting the considerable amount of activity that has taken place across the business since the summer. Whilst this increase will take time to flow through into our reported financials, we are confident that momentum is now back in the business and the size of the opportunity ahead of us remains intact.”
“Importantly, the level of Trisus sales grew in the half, with sales of all four of our current Trisus solutions and the pipeline for these products increasing. The transition of our existing product suite onto the Trisus platform is progressing and paves the way for long-term growth, as we provide our customers with the data-driven solutions they require to address the move to value-based care.”
“The positive sales performance in the first half has continued to date, and our pipeline continues to grow, underpinned by the o ngoing transition of the US healthcare market to value-based care. The Board’s expectations for the full year remain unchanged and we look forward to a return to increased rates of growth in future years. We are focused on execution and with strong operating margins, healthy cash balances and a growing sales pipeline, we continue to be excited by the opportunity ahead.”
Investor notes
Despite seemingly positive results, the company’s shares dropped 3.14% or 61.00p, to 1,879.00p per share 03/03/20 15:18 GMT. Analysts from Peel Hunt reiterated their ‘Buy’ stance on Craneware stock. The Group’s p/e ratio is 39.12, their dividend yield is modest at 1.39%.