Flow Traders: Soars on "massively unexpected" results

Flow Traders

12/02/2021 09:00

** Shares in Dutch trading services provider Flow Traders
 FLOW.AS  soar 9.9% after "blowout" Q4 results
    ** Flow Traders reported FY net profit soaring to 464.5
million euros ($562.3 million) from just 53.1 million euros a
year ago, while in Q4 it almost tripled to 66.2 million euros
 urn:newsml:reuters.com:*:nASN000TOQ
    ** KBC Securities says the company reported "blowout",
"massively unexpected" Q4 results, more than double the
consensus bottom line expectations
    ** "Although this confirms once again that Flow Traders is
to some extent a black box, it also indicates that some of our
conservativeness is unwarranted," KBC adds
    ** Jefferies echoes comments of a "strong finish to an
exceptional year" and reiterates its "buy" recommendation
    ** Flow Traders also announced a final 2.5 euro dividend,
implying a total FY dividend of 6.5 euros and a 63% pay-out
ration, KBC flags
    ** Shares, trading at mid-Sept levels, are on track for
their best day since Feb 2018


($1 = 0.8260 euros)

 (piotr.lipinski@tr.com)