Puma : A disappointing Q2 2018, with profitability below expectations but guidance unchanged at the operating profit level
>Q2 2018 results undershot expectations, sales at 15.1%cc (vs Oddo BHF 14.6%cc and consensus 15.1%) and the op. margin at 5.5% (vs Oddo BHF 6.4%, consensus 5.8%), op. profit was 6% lower than the consensus - The Q2 2018 sales (€ 1. 049bn, +15.1%cc) worked out in line with the consensus. Organic growth of 15.1% also (Oddo BHF at 14.6%cc and the consensus at 15.1%). The gross margin came to 48.6% (+210pb), 1% higher than the consensus. Operating profit came in at € 58m ...Puma Exploration is a junior mining exploration company engaged in the acquisition, exploration and development of mining properties. Co. is in the exploration stage and does not derive any revenue from the development of its properties. Co.'s long-term profitability is related in part to the costs and success of the exploration and subsequent development programs. Co. has not yet determined whether the properties contain economically viable reserves.
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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