Update: Waiting for September
Euromoney’s Q3 update indicates that year-to-date financial performance is in line with management expectations. As is usual, the full year outcome depends on September’s trading performance, which typically provides around 20% of annual profits. For 2016, September’s prospects are hard to call. While sterling weakness boosts reported results, uncertainty in client markets has been exacerbated by the Brexit vote and it is prudent to leave forecasts where they are for now. Cash conversion remains very strong and is a key attraction of the stock, with £83m of net cash on the balance sheet at 30 June. The share price is likely to mark time until the market picture becomes clearer.Euromoney Institutional Investors is an international business information group. Co.'s segments are: Asset management, which provides independent research; runs networks and conferences; and provides news and data that are critical for the industry; Pricing, data & market Intelligence, which provides prices, data, analysis and events that are critical for business processes and workflow across a number of industries, such as metals and mining industries, telecoms, insurance, airline and banking; Banking & finance, which provides market intelligence, news, training and conferences; and Commodity events, which consists of conferences in the metals, agriculture and energy sectors.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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