Cast: Q2 2018 sales impacted by deal slippages; FY18 guidance confirmed
Cast: (BUY, Fair Value Fair Value EUR4,7 (+22%))Q2 2018 sales impacted by deal slippages; FY18 guidance confirmed
On Friday last week Cast reported Q2 2018 sales below our estimates due to one large transaction which slipped to Q3 2018. Since the deal is still expected this year, management, who considers it had missed EUR1m revenues in Q2, is standing by its FY18 targets. This would imply, in our view, modest growth in Q3 and 30-35% growth in Q4.
Cast is engaged in the design, publishing and distribution of computer software programs. Co. also offers IT consulting and technical assistance for professional information systems. Co. operates in France, U.S.A., Belgium, Spain, Italy, Switzerland, and Germany.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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