Brightside (LON:BRT) - Meeting high expectations
Jan 25th 2013 - Edison Investment Research today published a report on Brightside (BRT.L, LSE:BRT, LON:BRT) entitled "Meeting High Expectations". In summary, the report says:
Brightside has published a trading update covering the year to 31 December 2012. A full announcement is expected in March. It says it has traded well and will meet the market’s, and our, expectations of strong growth in revenue, profits and EPS, with a strong balance sheet, supported by operational cash flow. Following a maiden interim dividend of 0.22p per share, we forecast a similar final dividend. The group is also seeking shareholder authority to repurchase up to 10% of outstanding shares, with the aim of returning cash to shareholders and improving liquidity in the shares. Policy sales brokered have accelerated in H2 supported by additional, competitive third-party underwriting capacity and a good start for the new affinity partnerships. Premium...
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