Share - Evidence that investment is paying off
Share’s full-year results were similar to our expectations with revenue growth of over 12%, despite the equity market downturn in the final quarter. The group is now drawing to the end of its investment programme to achieve a digital transformation and has succeeded in making further acquisitions to gain greater scale. With a pipeline of further transactions and full benefits of its IT spend still to come, earnings should respond in a geared fashion, reducing the current high earnings multiples substantially on a medium-term view.Share's principal business is The Share Centre Limited. The Share Centre provides services to personal investors on a self-select basis. There are four main account types: Share Accounts, which are dealing accounts capable of holding a range of equities, funds, Exchange Traded Funds, bonds and investment trusts; Individual Savings Account (ISA), which has the same functionality but within the tax efficient savings wrapper of an ISA; Self Invested Personal Pension, which provides a tax efficient route through which to save in order to provide a pension in retirement; and Child Trust Fund/Junior ISA, which can be opened by parents and guardians on an unfunded self-select basis.
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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