'American beat': Flow Traders jumps as diversification bears fruit

Flow Traders

09/02/2023 09:14

** Shares in Flow Traders  FLOW.AS  rise 8% after the Dutch 
trading services provider posted solid Q4 results
    ** Flow Traders' Q4 normalized total income (NTI) comes in
at 113.9 million euros  ($122.45 million), while normalized
EBITDA reach 48.2 million euro, with a margin of 42%
    ** NTI was stronger than expected, ING says, beating
company-compiled consensus by 20.4%, despite a 3.5% decline in
value traded to 369 million euros
    ** ING deems it an "American beat" with "significantly
better revenue capture in Americas as bond spreads widened ...
and the last year's initiative to increase market presence
starts to bear fruit"
    ** "Strong results underlined by trading diversification,"
KBC Securities adds
        ** Share is on track for a best day since Oct. 27, and
touching highest price since Oct. 31
($1 = 0.9301 euros)
 (Reporting by Dina Kartit)
 ((dina.kartit@thomsonreuters.com))