Outlook: Solid foundations, set for an advance in H2
While Innovation's H1 results were distorted by a number of factors, underlying progress in BPS was encouraging. The Insurer Software business was heavily hit by contract slippage, but deal flow since period end supports a strong bounceback in H2. Our estimates have not changed significantly, on which basis the valuation looks very undemanding. We believe that achieving the H2 revenue earnings ramp, software and property BPS deal flow all provide strong catalysts for share price upside in H2.
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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