OFX’s FY19 Earnings and FVE Raised on Good Operating Momentum and Lower Australian Dollar
Positive earnings momentum, our continuing confidence in new management’s multipronged growth strategy, and the recent depreciation of the Australian dollar against major currencies such as the U.S. dollar, British pound, and euro prompt an increase in no-moat OFX Group’s underlying net profit after tax and fair value estimate. We increase the company’s fiscal 2019 underlying NPAT to AUD 22.8 million from the previous AUD 21.1 million and increase our fair value estimate by 6% to AUD 1.80 per sh...OFX Group is engaged in the provision of international payments and foreign exchange services. Co. offers fast international money transfers at competitive rates for individuals & businesses. Co.'s two products are international payment services and international payment solutions. International payment services are monitored by geographic region (based on client location) and provide bank to bank currency transfers servicing businesses and consumers. International payment solutions are monitored globally and provide strategic partners with a package which includes: OFX Technology platform; client service; compliance sophistication; banking relationships; and payments capabilities.
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