Latest research

OTC Markets Group

Clear focus on longer-term aims

Update | Financials | 21/03/2018

OTCM Markets Group (OTCM) reported FY17 results in line with our expectations, with 7% revenue growth and a lower tax charge driving earnings growth of…


Improving underlying cash flow

Update | Industrial Support Services | 21/03/2018

No immediate resolution to the dispute with HMRC over landfill taxes is expected and, in the absence of clarity as to the timing and scale of any potential…


Adding new verticals

Flash note | Media | 21/03/2018

Future has announced the purchase of five well-known, specialist consumer titles from Haymarket Media for up to £14m, 1.2x their combined revenue…


Improving growth profile

Update | Media | 21/03/2018

Headwinds in the US affected overall performance in FY17 and we pare back FY18 EPS forecasts by 5%. However, remedial action has been taken, activity in…

PDL BioPharma

A strong year

Update | Pharmaceutical & healthcare | 21/03/2018

PDL recently reported results for 2017. Revenue grew by 31% compared to 2016 to $320.1m as the company transitioned away from royalties related to the…