Coface : Margins still satisfactory in Q3 2019
>Slowdown in revenue growth - Last night, Coface reported Q3 2019 net income which was a little better than expected. The group's revenues clocked in at € 371m (+5.7% reported, +3.8% at constant forex), slightly better than expected despite a sequential slowdown in growth (growth was at +6.5% at constant forex in H1 2019). We note nevertheless an improvement in new business volumes (€ 96m 9M 2019 vs € 90m 9M 2018), very strong client retention (92.2% 9M 2019, +0.8 poi...Coface is a holding company that performs its activities through its primary operating subsidiary, Compagnie franASSaise d'assurance pour le commerce extA(c)rieur and its subsidiaries. Through its subsidiaries, Co. is a provider of credit insurance to businesses with solutions to protect them against the rist of client insolvency on both domestic and export markets.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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