Majorel spikes on Q3 beat, guidance hike
03/11/2022 08:38
** Shares business services company Majorel Group Luxembourg
MAJ.AS rise 5.7% as it hikes annual forecasts after Q3
revenues increase
** Majorel's Q3 net revenue rises 23% y/y to 540 mln euros,
with the company now targeting FY net revenue to grow to
1,950-2,050 million euros with operating EBITDA margin expected
between 16.5%-17.5%
** "Very strong Q3 and further upgrades to FY22 guidance, "
J.P.Morgan says, adding results exceed expectations with revenue
about 7.5% above its forecasts
** "The beat was driven by the base business, with COVID-19
revenues only EUR 8 mln in the quarter, in-line with our
expectations" - JPM
(Reporting by Piotr Lipinski)
((piotr.lipinski@tr.com))