Swissquote: Spikes on surprising H1, upcoming outlook upgrade
16/06/2021 08:30
** Shares in Swissquote SQN.S surge 13%, on track for best
day in 15 months, after the banking group posts H1 preliminary
figures, expects to "significantly" revise 2021 outlook
upwards urn:newsml:reuters.com:*:nFWN2NX1BM
** H1 figures are a huge positive surprise, Credit Suisse
says
** It points to Swissquote's record H1 net revenue and 123%
rise in PBT, saying the company already reached both consensus
and Credit Suisse's 2021 PBT estimates in H1
** Swissquote sees H1 net revenues at around CHF 260 million
($289.53 million) and pre-tax profit to exceed CHF 130 mln,
compared to CHF 160.7 mln and CHF 58.4 mln respectively in the
previous year
** It adds it will revise upwards the 2021 guidance reported
on March 18 urn:newsml:reuters.com:*:nFWN2LF10O, with the publication of H1 results on
August 6
** 2021 outlook "will go up massively," Credit Suisse notes
($1 = 0.8980 Swiss francs)
((Linda.pasquini@thomsonreuters.com))