Informa’s shares under pressure after 1H results
Nicolas Suiffet September 21, 2020 4:41 AM
Informa, the business intelligence company, reported that 1H adjusted EPS declined 78.4% on year to 5.0p
Informa, the business intelligence company, reported that 1H adjusted EPS declined 78.4% on year to 5.0p and adjusted operating profit dropped 72.8% to 119 million pounds on revenue of 814 million pounds, down 42.1%. The company added: "The recovery in Mainland China continues to build in pace and scale and the outlook for the remainder of 2020 looks steady, as confidence returns in that market and in the broader region. However, this is more than offset by the slower recovery in North America and elsewhere, with the net consequence a reduction to Group revenue expectations for the full year. We are now tracking closer to the Vigilant Case scenario outlined in our April and June updates."
From a technical point of view, the stock price bounced off the upper boundary of a short term bearish channel and should resume its down trend. Both the 20/50DMAs are playing a resistance role. The daily Relative Strength Index (RSI, 14) is capped by a declining trend line. Below 410p, expect a decline towards March low at 326. Alternatively, a push above 410p would call for a reversal up trend.
Source: GAIN Capital, TradingView
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