LMK GROUP: Disappointing Q1 on both sales and margin | BUY | SEK96
LMK GROUP - BUY | SEK96Disappointing Q1 on both sales and margin
-19.3% sales growth at c.FX in Q1, 10pts below expectations
Active customers being the main disappointment
EBITDA margin surprisingly negative
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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