Allfunds Group edges up on H1 beat

Allfunds

30/07/2024 08:33

** Shares in Allfunds Group  ALLFG.AS  rise 3.4%, after its 
H1 results came in above expectations
    ** The UK-based fund manager publishes H1 total net revenues
of 310 million euros ($335.54 million) with an adjusted EBITDA
margin of 67.9%
    ** "Another strong set of results" says Jefferies in a note,
pointing to a beat to consensus in net revenues and EBITDA
margin (+2% and +4% respectively) 
    ** The broker flags the net revenue beat for H1 was driven
by net treasury income (NTI) as well as higher transaction
revenues
    ** Tuesday's gains slightly reduce the stock's YTD slump to
-15.5%
    
($1 = 0.9239 euros)

 (Reporting by Clement Martinot)
 ((Clement.martinot@tr.com))