Euromoney Institutional Investor - Awaiting Asset Management resolution
SUMMARY
As indicated in the year-end trading update, FY19 figures were ahead of expectations, with continued good progress in Pricing, Data and Market Intelligence (PDMI), where the Fastmarkets brand is gaining traction. There was no new news on Asset Management, now accounted as discontinued. £50m of net cash at the year-end allows plenty of scope for investment and M&A towards the goal of a fully ‘3.0’ business model, embedded in its clients’ workflows. The $20.4m purchase of Wealth–X clearly fits with this. Recent share price weakness has opened up a notable discount to global B2B information peers.
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- Euromoney Institutional Investor - Awaiting Asset Management resolution27 Nov 2019
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