EML Payments - Weaker European business drives downgrades
With its Q322 trading update, EML Payments downgraded its guidance for FY22. A number of factors have combined to weigh on revenue and increase overheads. We have revised our forecasts to reflect lower revenue growth and a higher cost base, cutting our EBITDA and NPATA forecasts for FY22–24. In our view, resolution of the Irish regulatory issue and rising interest rates are the two main factors that could provide earnings and share price upside.EML Payments is engaged in the exploration for and development of economic deposits of gold and other minerals. Co. operates predominantly in Australia.
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