Spread Research - MATALAN- Q4 - Another strong quarter; able to cope with strengthening FX headwinds this year

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Spread Research

Anthony Giret

MATALAN- Q4 - Another strong quarter; able to cope with strengthening FX headwinds this year

Value clothing retailer Matalan, which operates an out-of-town network of 227 stores in the UK, has released another strong set of results, for 4Q17/18 (period ended 24 February 2018). LFL sales increased by 6.2% yoy (FY17/18: +2.4%), and EBITDA increased by 45% to £15m (EBITDA margin: +150bps to 5.7%) .

07/06/2018 3 EN

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Spread Research

Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.

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Analysts

Anthony Giret

Other Reports from Spread Research

Joan Sehim

Joan Sehim

Gamenet 2q18 - sport payout change offsets regulation impact, goldbet to boost profitability

Gamenet, Italy’s No. 3 gaming firm, reported good 2Q18 results with stable sales yoy at €148m and EBITDA up 9% yoy to €21m, giving a 14.5% LTM margin as of June 2018 against 13.2% as of December 2017. Once again, Gamenet has adjusted its sport betting payout (winnings returned to players), lowering it to 80.3% during the quarter from 85.7% last year, to mitigate the impact from the tightening of regulation on gaming machines initiated in May 2017.

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Benjamin Sabahi

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The world’s largest provider of healthcare information reported strong numbers for 2Q18. Reported revenues increased by 9% yoy in 2Q18 and +7.7% excluding FX. This was above market expectations and an intensification of the positive trends seen in 4Q17 (+5.5%) and 1Q18 (+5.2%) excluding FX impacts. This was down to a mix of accelerated organic growth coupled with M&A contributions, fully reflecting the investments in the next generation of clinical trials.

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MATALAN- Q4 - Another strong quarter; able to cope with strengthening FX headwinds this year

Gamenet 2q18 - sport payout change offsets regulation impact, goldbet to boost profitability

INTRALOT- Special Comment

IQVIA- 2Q18 Comments

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