Oct 02nd 2013 - Edison Investment Research today published a report on GLI Finance (GLIF.L, LSE:GLIF, LON:GLIF) entitled "Transformation Continues". In summary, the report says:
As usual, we caveat the statutory accounts for GLI Finance (GLIF) where accounting of the CLO and security realisation does not present the real economic picture. H113 real income rose and both administration and financing costs fell, leading us to upgrade our ‘real’ pre-tax and EPS numbers by c 20%, supporting the attractive yield. On 30 September the group placed 9m new shares equivalent to 6.9% of its equity at 51p to fund growth. It is looking to segregate the CLO in a separate unit, which may obtain a separate listing in due course.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »