Grenke rises on 'solid' Q1 results
04/04/2024 08:08
** German leasing company Grenke's GLJn.DE shares rise
around 2% after it reported "solid" Q1 results
** New leasing business rose 9.8% to 669.8 million euros
** "Grenke has reported solid new business figures for
Q1," Pareto Securities ("buy") writes
** The brokerage points to a rise in new business margin
which is in line with target of 17%, showing that Grenke has
successfully passed on the higher funding costs to its customers
** "As Q1 2023 was a relatively strong quarter and as
quarterly growth rates always tend to fluctuate somewhat, we
are, however, not worried about Grenke not reaching its
full-year growth target" - Pareto
** Grenke shares are among the best performers of Germany's
small-caps index .SDAXI
(Reporting by Tristan Veyet)
((Tristan.chabba@thomsonreuters.com))