HighCo : Start to the year hit by the crisis, tougher Q2 – Target price cut to € 3.9, Neutral rating reiterated
>Gross margin down 10.3% to € 20.8m (vs € 21.4m est.) - HighCo reported yesterday evening Q1 gross margin down 10.3% to € 20.8m, missing our expectations (-7.7% to € 21.4m). Despite good revenue in January and February (slight growth), March suffered the first effects of the crisis (stores closed, campaigns postponed or cancelled, etc.) and was alone hit by a 27.4% decline. International market holds up well, France plummets – Digital more resilient than ...High Co SA is a France-based marketing services group for mass-market retailers and consumer goods manufacturers. The Company offers marketing solutions, such as coupon issuing, a promotional technique that entitles the customer to a discount on a product; sampling, which consists in offering free samples to test a product; point-of sale, which ranges from shelf tags to in-store radio announcements, floor graphics and in-store field marketing; clearing, which consists of processing discount coupons and money-back offers; marketing communication agencies, which provide support for brands and retailers in their marketing campaigns, and digital services with the subsidiary, HighCo 3.0., which advises and assists clients on the integration of digital technologies for distributors and brands. The Company operates in France, Spain, United Kingdom, Poland, Russia and Turkey, among others.
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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