Allfunds rises on resilient H1, share buyback

Allfunds

28/07/2023 08:52

** Shares of Allfunds  ALLFG.AS  jump 7.4%, boosted by
better-than-expected H1 results and a share buyback
    ** Co reports H1 adjusted EBITDA of 172 mln euros ($188.7
mln) on net revenues of 266 mln euros, and launches a share
buyback of up to 100 mln euros
    ** Jefferies says EBITDA is 6% ahead of expectations
    ** "This is the resilient 1H we had been hoping for,"
brokerage says, adding that "most encouragingly", migrations
came in at 20 bln euros, well ahead of 16 bln euro consensus
    ** Jefferies also underlines support of the buyback
    ** Among best performers on STOXX 600, the stock is heading
for its biggest single-day jump in five months

($1 = 0.9117 euros)

 (Reporting by Piotr Lipinski)
 ((piotr.lipinski@tr.com))