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Another 6 - 8% organic growth is significant considering how impressive 2020 was
The question is how does the market react.
Operating margin is expected to be unchanged in fy 2021 even to wage inflation and transition to cloud based servers.
I really like the cloud based transition part. Fixed based storage and processing isnt the future.
Solid results, as I expected no real surprises, they are giving FY 21, increasing dividend, reducing debt, increasing revenues etc..... all positive in my eyes but whatever happens today, there is no reason why this won’t be trading in 500s and beyond in near term
Yes, true. Fully agree with that statement.
I guess it will just come down to market open and how bullish equities are today.
Flat start. Think everyone waiting for budget announcement. Fingers crossed no on line tax
Any idea of the size of the " significant unrealised FX loss arising from Euro denominated loan" ?
SP is spooked this morning. Hopefully support around 440
Hey Cliff I make it 62.1 M according to the below. In my simple mind they should have hedged knowing the volatility of EURUSD and EURGBP pairs. Why they don't seem to have is beyond my comprehension!
he Group further reduced its term loan by the repayment of $200m from the USD tranche in June and September 2020 (see Note 27 Term Loan). As of 31 December 2020, the total Gross debt13 of the Group was $901.0m and the total Net debt13 was $725.6m. The decrease in gross debt since 31 December 2019 is attributable to $(200.0)m voluntary repayment of borrowings, $(61.9)m of mandatory repayment of borrowings, and $(0.3)m decrease in lease liabilities, offset by negative unrealised FX loss of $62.1m on the EUR tranche of the loan.
Thanks Contrarian, I agree, crazy not to hedge. Puts a real damper on the results and future results until it's hedged. Not surprised to see the sell off. :(
New holder here - 1500 at 439p. Seemed a fair set of results with a decent outlook to me.