Analyst Views: What did you make of Fidessa Group’s results yesterday?
GEORGE O’CONNOR | PANMURE GORDON
There is of course the special dividend and the broadly positive outlook statement (quelle surprise) – things are getting better. There are two flies in the ointment, currency headwinds denting growth, and buy-side missed our estimates. We need firmer evidence before we change our stance.
ANDREW DARLEY | FINNCAP
Fidessa’s prelims show performance broadly in line with our forecasts, with continued but gradually declining growth headwinds albeit that some of the impact of customer attrition in 2013 will flow through into 2014. The dividend is importantly as expected.
DAVID TOMS | NUMIS
The fifth special dividend in a row. Management are incrementally more upbeat about trading and imply around five per cent underlying revenue growth in full year 2014, albeit offset by currency headwinds, giving a flat year in revenue and profit terms. There is significant long-term value here.